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What is the size of the quarterly payment

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Question - At the beginning of every 6 months, $1280.00 is deposited for 8 years at 6.6% compounded monthly. After 8 years interest for the account is to be 9.66% compounded quarterly and the account is to be paid out by equal end-of-quarter quarterly payments over 6 years. What is the size of the quarterly payment?

Reference no: EM132522403

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