Question: You are expected to repay a loan for $ 4 7 1 0 in 3 equal payments at the end of the next 3 quarters

You are expected to repay a loan for $4710 in 3 equal payments at the end of the next 3 quarters [so every 3 months]. The interest charged on the loan is 8.6%. Because this is calculated on the day the money is loaned, use 'today' as the focal date.
*Hint: draw a timeline first to help with your solution
Your answer must include the units and be rounded to the correct number of decimals

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