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Find the quarterly payment-buying a car

Problem: Buying a car.

A student borrowed $4000 from a credit union toward purchasing a car. The interest rate on such a loan is 14% compounded quarterly, with payments due every quarter. The student wants to pay off the loan in 4 years. Find the quarterly payment.

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Finance Basics: Find the quarterly payment-buying a car

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Finance Basics: Find the quarterly payment-buying a car

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