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A loan of $105,494.50 is to be amortized over a 5 -year term at 6% interest compounded monthly with monthly payments and a $10,000 balloon

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A loan of $105,494.50 is to be amortized over a 5 -year term at 6% interest compounded monthly with monthly payments and a $10,000 balloon payment at the end of the term. Calculate the monthly payment. The monthly payment is $ (Do not round until the final answer. Then round to two decimal places as needed.)

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