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You borrow a $ 332,969 add-on interest loan from the credit union and will repay in...

You borrow a $ 332,969 add-on interest loan from the credit union and will repay in equal installments over 14 years. The nominal rate of interest is 4.56 %. Assuming quarterly repayment and simple rate of interest, obtain the equal quarterly payments.

Round your final answer to two decimal places.
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Answer #1

Quarterly payment = pmt = Loan = [(1-(1/(1+ran)}}/r] 332,969 = [((1-1/1.0114-56)/0.0114) $8,077.09

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