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A mining company has secured an $ 8 0 0 , 0 0 0 loan at a nominal interest rate of 6 % compounded monthly.
A mining company has secured an $ loan at a nominal interest rate of compounded
monthly. Based on a special business agreement with the financier, the company must pay
back the loan in five equal installments, payable in months and What is the
value of each payment?
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