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A company borrowed $1,080,000 from a bank at an interest rate of 10% compounded monthly. The loan will be repaid in 36 equal monthly installments

A company borrowed $1,080,000 from a bank at an interest rate of 10% compounded monthly. The loan will be repaid in 36 equal monthly installments of $34,848.56 each over three years. Immediately after the 20th payment, the company decided to pay the remainder of the loan in a single payment. Compute the total amount that the company must pay.

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