Question: Your client saving account has a stated annual interest rate of 7.89 percent, compounded monthly. However, your client wants to make payments quarterly, rather than

Your client saving account has a stated annual interest rate of 7.89 percent, compounded monthly. However, your client wants to make payments quarterly, rather than monthly, Assuming the amount borrowed is $332,076, what payments would the borrower have to make quarterly to pay the loan off in 9 years?

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