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A debt of $30000 with interest at 9.75% compounded quarterly is to be repaid by...

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Accounting

A debt of $30000 with interest at 9.75% compounded quarterly is to be repaid by equal payments at the end of each year for 7 years.
What is the size of the annual payment?
a
$6185
b
$6824
c
$6346
d
$6282

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