What will be his equal quarterly payments

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A person borrowed $30, 000 and planned to pay it back in 15 equal semi annual installments. On the day that he made the 5^th installment, he decided to pay the balance in 8 equal quarterly payments with the first payment due three.months from the day of the 5^th installment. If the interest rate is 8 % per year compounded quarterly, what will be his equal quarterly payments?

Reference no: EM131166645

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