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A company borrowed $102894 from a bank at an interest rate of 10% compounded monthly. The loan will be repaid in 36 equal monthly installments
"A company borrowed $102894 from a bank at an interest rate of 10% compounded monthly. The loan will be repaid in 36 equal monthly installments over three years. What is the amount of this monthly installment (payment)?" Note: Please enter your answer to two decimal places. If using the interest factor method, apply the value of the factor as presented in the table or spreadsheet (with all four decimal places)
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