Bill borrowed 10000 to be repaid in quarterly instalments, Mechanical Engineering

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Bill borrowed 10000 to be repaid in quarterly instalments

Bill borrowed $10,000 to be repaid in quarterly instalments over the next 5 years. The interest rate he is being charged is 10.26% per year compounded quarterly. What is his quarterly payment? Give answer without $ sign with 2 decimal place precision.

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Mechanical Engineering: Bill borrowed 10000 to be repaid in quarterly instalments

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Mechanical Engineering: Bill borrowed 10000 to be repaid in quarterly instalments

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