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OpenStudy (anonymous):
Glen wants to purchase new equipment for his landscaping business. He wants to arrange a loan that he will not have to repay for 24 months. The loan he has negotiated has an annual rate of 5.35% compounded quarterly. He only wants to pay back a maximum of $18500 when the loan matures in 24 months.
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OpenStudy (anonymous):
Is $18500 the future value, or principle value?
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