Question: Amanda would like to borrow 50 000 to pay one year s

Amanda would like to borrow $50,000 to pay one year’s tuition at a private U.S. university. She would like to make quarterly payments and finish repaying the loan in five years. If the bank is quoting her a rate of 6 percent compounded monthly, determine her quarterly payment.


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  • CreatedFebruary 25, 2015
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