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A motorcycle has a cash value of $16,000,000. It is financed by paying an initial fee of 30% of the price and the rest is

A motorcycle has a cash value of $16,000,000. It is financed by paying an initial fee of 30% of the price and the rest is financed for three and a half years in equal monthly installments. If the rate charged by the bank for financing is 42% MV, find the value of installments knowing that the first is paid within three months.

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