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1. A company borrowed $250,000 from a bank at an annual percentage rate of 6% with monthly payments for 3 years. The monthly payment in
1. A company borrowed $250,000 from a bank at an annual percentage rate of 6% with monthly payments for 3 years. The monthly payment in this case is __________________.
a. $7,048.58
b. $7,291.20
c. $7,360.64
d. $15,105.74
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