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A restaurant owner takes out a 1 2 0 - month loan of 1 0 , 0 0 0 today. To pay off the loan,
A restaurant owner takes out a month loan of today. To pay off the loan, the owner will make endofmonth payments of
for each of the first months,
for each of the next months, and
for each of the final months.
The monthly payments are based on an annual nominal interest rate of compounded monthly.
Determine which one of the following is an equation of value that can be used to calculate
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