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You are considering taking out a loan of $7,000.00 that will be paid back over 10...

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Finance

You are considering taking out a loan of $7,000.00 that will bepaid back over 10 years with quarterly payments of $240.45. If theinterest rate is 6.6% compounded quarterly, what would the unpaidbalance be immediately after the eighth payment?

The unpaid balance would be $_______. (Round to 2 decimalplaces.)

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You are considering taking out a loan of $7,000.00 that will bepaid back over 10 years with quarterly payments of $240.45. If theinterest rate is 6.6% compounded quarterly, what would the unpaidbalance be immediately after the eighth payment?The unpaid balance would be $_______. (Round to 2 decimalplaces.)

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