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Fieldsaver Technologies, a manufacturer of precision laboratory equipment, borrowed $2 million to renovate one of its testing labs. The loan was repaid in 2 years through quarterly payments that increased by $50,000 each time. At an interest rate of 12% per year, compounded quarterly, what was the amount of the first quarterly payment? The amount of the first quarterly payment is $__________

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92395046

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