You are to repay a loan of $ XXXXXXXXXXwith 17 quarterly repayments of $240.00, with the first repayment being one quarter after you took out the loan. Interest is charged at j4 = 7.8390% p.a. One...

You are to repay a loan of $3600.00 with 17 quarterly repayments of $240.00, with the first repayment being one quarter after you took out the loan. Interest is charged at j4 = 7.8390% p.a. One quarter after the last payment of $240.00 you make a partial payment to finish paying off the loan. The size of the partial payment is:

Question 1 options: 1) $158.38 2) $220.29 3) $224.61 4) $224.47