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1. Lisa is at the bank trying to get a loan for $3,000. The bank offers her two options--both have equal payments over 2 years.

1. Lisa is at the bank trying to get a loan for $3,000. The bank offers her two options--both have equal payments over 2 years. Option #1 is to pay monthly at an annual rate of 14%. Option #2 is to pay weekly at an annual rate of 13%.

Question. What is the monthly payment for option #1?

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