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What ranges is the extra amount that jones pays in addition

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Jones purchased a house, paying $10,000 down and agreeing to pay $400 at the end of every three months for the next ten years. The nominal annual rate of interest is 12% compounded quarterly. Jones discharges the remaining indebtedness without penalty by making a single payment at the time the ninth regular payment is due.

Problem 1: Find what ranges is the extra amount that Jones pays in addition to the regular payment then due?

Reference no: EM132731545

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