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2. A 10-year loan of $10,000 with monthly payments based on a 12% interest convertible monthly, is being repaid by paying the interest every month

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2. A 10-year loan of $10,000 with monthly payments based on a 12% interest convertible monthly, is being repaid by paying the interest every month and accumulating the principle by means of monthly deposits into a sinking fund. The sinking fund earns 6% compounded monthly. What are the total monthly payments needed to pay back the loan

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