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A loan of $10000 is to be financed over a period of 24 months. The agency quotes a nominal interest rate of %8 for the

A loan of $10000 is to be financed over a period of 24 months. The agency quotes a nominal interest rate of %8 for the first 12 months and a nominal interest rate of %9 for any remaining unpaid balance after 12 months, with both rates compounded monthly. Based on these rates, what equal end-of-the-month payment for 24 months would be required in order to repay the load ?

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