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A loan of $ 10000 is to be repaid in 24 equal monthly installments with the first one paid seven months after the loan is

image text in transcribedA loan of $ 10000 is to be repaid in 24 equal monthly installments with the first one paid seven months after the loan is made. The nominal annual interest rate is 7 % compounded bimonthly. Determine the amount of the monthly payment. Amount of monthly payment = $

(1 point) A loan of $ 10000 is to be repaid in 24 equal monthly installments with the first one paid seven months after the loan is made. The nominal annual interest rate is 7 % compounded bimonthly. Determine the amount of the monthly payment. Amount of monthly payment = $

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