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A home purchased in 2005 required an $80,000 loan which was to be repaid in equal monthly payments over a 30-year period. Nominal annual interest

A home purchased in 2005 required an $80,000 loan which was to be repaid in equal monthly payments over a 30-year period. Nominal annual interest on the loan was stated as 10% compounded monthly. If the inflation rate is forecast to average 6% annually, compounded monthly, determine the equivalent present worth of the real dollar cash flow.

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