A loan of $10 000.00 is to be repaid in four equal payments due in three months, six months, nine months, and one year respectively after the date of the loan. Calculate the size of the equal payments if interest is 8.5%.

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The Answer of A loan of $10 000.00 is to be repaid in four equal payments due in three months, six months, nine months, and one year respectively after the date of the loan. Calculate the size of the equal payments if interest is 8.5%.

A Loan of $10 000