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Posted on Jul 19, 2024

You borrowed $ 1 2 , 0 0 0 from your bank to build a small cabin on your property. The bank will charge 6

You borrowed $

12, 000

from your bank to build a small cabin on your property. The bank will charge

6 %

per year compounded quarterly. You decide to pay off this loan in

2

years by making quarterly payments. How much are your quarterly payments?

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