Question: Please show steps on how you got the answer. Review Questions for QMS130 Test 2. A loan of $25,000 is to be repaid with quarterly

Please show steps on how you got the answer.

Review Questions for QMS130 Test 2. A loan of $25,000 is to be repaid with quarterly payments of $1500 for 3 years (12 payments) followed by quarterly payments of $1000 for as long as is needed. If the interest rate on the loan is j4 - 10%, what is the outstanding balance after 13 payments? ($12,252.12) 2. A loan is taken out at j12 = 18% and is amortized with monthly payments of $360.37 for 10 years. After 4 years

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