How much would the man owe the lender at the time

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A man borrows $250,000 to buy a house at the end of year 0 at a nominal 10% a year compounded quarterly. He arranges to make quarterly payments for 10 years, with the first quarterly payments occurring 6 months after receiving the $250,000. How much would the man owe the lender at the time he is about to make his fourteenth quarterly payment?

Reference no: EM13245823

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