A loan of $14,800 is to be amortized with quarterly payments over 7 years. If the interest on the loan is 8% per year, paid on the unpaid balance, answer the following questions. a. What is the interest rate charged each quarter on the unpaid balance? b. How many payments are made to repay the loan? c. What payment is required quarterly to amortize the loan? a. The interest rate each quarter is%.

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A: Working note:

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A:

Q: What payment is required at the end of each quarter for five years to repay a loan of $5600 at 6%…

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Q: A $14,000 loan is to be amortized for 10 years with quarterly payments of $511.78. If the interest…

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