EBK CFIN
6th Edition
ISBN: 9781337671743
Author: BESLEY
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Transcribed Image Text:Brian took eight years to pay off
his $71,900 loan. The loan had
an interest rate of 8.16%,
compounded quarterly. If Brian
paid quarterly and made the
same payment every time, how
much was each payment that he
made?
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