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QUESTION 2 A loan of  $1000  is made today under an agreement that  $1400  will be received in payment sometime...

QUESTION 2

  1. A loan of  $1000  is made today under an agreement that  $1400  will be received in payment sometime in the future.  When should the  $1400  be received if the loan is to earn interest at a rate of  8  percent compounded quarterly?  (Enter your answer as the number of quarters.)

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