You have a loan. You make equal quarterly payments of $96.47 for 7 quarters. Your next quarterly
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You have a loan. You make equal quarterly payments of $96.47 for 7 quarters. Your next quarterly payment is due in 3 months and the quarterly interest rate is 6.5%. You payoff your loan with a special payment of $114.36 in 7 quarters. What is the current balance of your loan? (Round to the nearest cent)
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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