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A debt of $ 1 5 , 0 0 0 must be paid in a series of equal monthly payments for 5 years. The nominal

A debt of $15,000 must be paid in a series of equal monthly payments for 5 years. The nominal
interest rate is 9%, compounded monthly.
The amount of each monthly payment is: S
(answer to nearest dollar)
The effective annual interest is:
%(answer to one hundredth percent)
Do not include the dollar sign S or percent sign % in your answer.
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