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A new set of kitchen equipment has a cost of $ 9 5 , 0 0 0 including installation. You are able to negotiate a

A new set of kitchen equipment has a cost of $

95, 000

including installation. You are able to negotiate a monthly mortgage with a bank with

15 %

down payment at

8 %,

for three years. What is the monthly mortgage?

Please make sure to show me the Excel function you used.

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