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7 . An expansion to the Red River Floodway was completed in 2 0 1 0 at a cost of $ 6 6 5 million

7. An expansion to the Red River Floodway was completed in 2010 at a cost of $665 million to stop a 1 in 700 year flood. Assuming a mortgage of 700 years with equal monthly payments and an interest rate of 3% compounded semi-annually, how much is the payment the province must make each month?

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