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Welland Fabricating borrowed $37,500 at 8% compounded quarterly to purchase a new piece of machinery. Payments of $3900 are made at the end of
Welland Fabricating borrowed $37,500 at 8% compounded quarterly to purchase a new piece of machinery. Payments of $3900 are made at the end of every quarter. (Do not round the intermediate calculations. Round your answers to 2 decimal places.) a. Calculate the balance at the end of two years. Balance after 2 years is $ b. Calculate the final payment. The final payment will be $
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