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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 $800,000 loan at a nominal interest rate of 6% 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 1,3,13,25, and 36. What is the
value of each payment?

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