Question: Peter borrowed $5,000 at 12% compounded quarterly with an understanding to make end of quarter payments. If the loan is amortized over 3 years, what

Peter borrowed $5,000 at 12% compounded quarterly with an understanding to make end of quarter payments. If the loan is amortized over 3 years, what is the loan balance after 2 years? Select one: a $502.31 Cross out cross out b. $1.867.14 c. $3,526.06 d. $2,101.48 Cross out cross out

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