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A loan of 45,414.39 will be repaid with 79 equal monthly payments, with the first payment due one month after the loan is taken out.

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A loan of 45,414.39 will be repaid with 79 equal monthly payments, with the first payment due one month after the loan is taken out. If the nominal interest rate convertible monthly is 0.052, calculate the balance on the loan after 1 years of payments have been made. Give your answer to the nearest dollar

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