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Posted on Sep 08, 2024

You are considering taking out a loan of $ 6 , 0 0 0 . 0 0 that will be paid back over 1 0

You are considering taking out a loan of $

6, 000.00

that will be paid back over

10

years with quarterly payments. If the interest rate is

6.4 %

compounded quarterly, what would the unpaid balance be immediately after the eighth payment?

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