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You borrowed $14,000 from your bank to build a small cabin on your property. The...

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Accounting

You borrowed $14,000 from your bank to build a small cabin on your property. The bank will charge 6% per year compounded quarterly. You decide to payoff this loan in 3 years by making quarterly payments. How much are your quarterly payments?

a) $1,273.52

b) $1,303.52

c) $1,283.52

d) $1,323.52

e) $1,313.52

f) None of the above.

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