Question: DJR Construction signed a loan contract at 8.36% compounded quarterly, with the provision to pay $765 at the end of each month for 4 years.

DJR Construction signed a loan contract at 8.36% compounded quarterly, with the provision to pay $765 at the end of each month for 4 years.
(a) What is amount of the loan?
(b) How much will be owed at the end of 14 months?
(c) How much of the principal will be repaid within the first 14 months?
(d) How much interest is paid during the first 14 months?

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