Aj takes out a small business loan of 13000 dollars at a, Financial Management

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Aj takes out a small business loan of 13000 dollars at a

AJ takes out a small business loan of 13000 dollars at a nominal rate of interest of 8 percent convertible quarterly. One year later, he repays 3500 dollars. Two years after that, the bank wants to sell AJ's loan to another institution. How much does AJ owe at that time?

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