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17. What is the monthly payment on a loan of $5,000 to be paid back in monthly installments over 5 years at a nominal annual

17. What is the monthly payment on a loan of $5,000 to be paid back in monthly installments over 5 years at a nominal annual interest rate of 6% convertible monthly? A. $93.98 B. $94.36 C. $96.24 D. $96.66 E. $98.92

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