You borrowed $ 13,000 from your bank to build a small cabin on your property. The bank will charge 7% per year compounded quarterly. You decide to payoff this loan in 3 years by making quarterly payments. How much are your quarterly payments? $ 1,250.48 $ 1,200.48 $ 1,230.48 $ 1,190.48 $ 1,210.48 None of the above