Find the payment needed to pay the following loans. a) $12500 at 8% compounded quarterly for 15 years. (2 marks) b) $7500 at 7.25% compounded monthly for 5 years. (2 marks)

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Find the payment needed to pay the following loans.
a) $12500 at 8% compounded quarterly for 15 years. (2 marks)
b) $7500 at 7.25% compounded monthly for 5 years. (2 marks)

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