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Posted on Aug 02, 2024

A contract can be fulfilled by making an immediate payment of $ 2 0 , 5 0 0 or equal payments at the end of

A contract can be fulfilled by making an immediate payment of $

20, 500

or equal payments at the end of each month for

6

years. What is the size of the monthly payment at

5.1 %

compounded monthly?

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