Question: Jane took out a $ 1 0 , 9 0 0 loan at 5 . 2 1 % compounded monthly to purchase new equipment for

Jane took out a $10,900 loan at 5.21% compounded monthly to purchase new
equipment for her business. The loan agreement required her to make quarterly
payments for 12 years, with the first payment made 6 years from now.
What is the size of Jane's loan payment? Enter your answer in blank #1.
(Round your answer to 2 decimal places and include the $ sign.)
How much interest did Jane pay on the loan? Enter your answer in blank #2.
(Round your answer to 2 decimal places and include the $ sign. Enter your
answer in the form $1,234.56.)
Blank # 1
Blank # 2
 Jane took out a $10,900 loan at 5.21% compounded monthly to

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