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A person bought a room on credit, the cash price of which was $90,000. If the person chose to pay the room in 7 equal
A person bought a room on credit, the cash price of which was $90,000. If the person chose to pay the room in 7 equal monthly installments and the first monthly payment will be paid within 4 months after having received the room, how much would be the monthly payments does the person have to pay if the store charges 10% annual interest capitalized semi-annually to finance its clients?
Please give me the correct answer with explanation.
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