$388.568 loan is being repaid by installments of $24.000 at the end of each quarter for as long as necessary, plus a final smaller payment. If interest is at J4 = 12%, find the outstanding balance at the end of 3 years. (please don't use excel my proffesor doesn't except that)

$388.568 loan is being repaid by installments of $24.000 at the end of each quarter for as long as necessary, plus a final smaller payment. If interest is at J4 = 12%, find the outstanding balance at the end of 3 years. (please don't use excel my proffesor doesn't except that)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 14P

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