FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
 

Tiffany received a loan of $8,600 at 4.75% compounded monthly. She settled the loan by making periodic payments at the end of every three months for 5 years, with the first payment made 3 years and 3 months from now. What was the size of the periodic payments?

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