Find the payment necessary to amortize a 8% loan of $600 compounded quarterly, with 12 quarterly payments.
Quarterly rate = 8% / 4 = 2%
Present value = Payments * [1 - 1 / (1 + r)^n] / r
600 = Payments * [1- 1 / (1 + 0.02)^12] / 0.02
600 = Payments * [1 - 0.788493]/ 0.02
600 = Payments * 10.575341
Payments = 56.74
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