The total interest paid on a 5-year loan at 8% interest compounded quarterly is $2,833.80. Determine the

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The total interest paid on a 5-year loan at 8% interest compounded quarterly is $2,833.80. Determine the quarterly payment for the loan. (Use the fact that the loan amount equals 20 # R - [total interest].)
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Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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