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You make payments of $3000 quarterly for 10 years to your bank. Assuming an interest rate of 3% per year compounded monthly, find: 1 -

You make payments of $3000 quarterly for 10 years to your bank. Assuming an interest rate of 3% per year compounded monthly, find:

1 - The effective quarterly interest rate

2 - The principal

3 - The quarterly interest rate

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