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Amazon would like to purchase a building costing $900,000 by paying $366,548 cash on the purchase date and agreeing to make equal payments every three
Amazon would like to purchase a building costing $900,000 by paying $366,548 cash on the purchase date and agreeing to make equal payments every three months for the next five years. The first payment is due three months after the purchase date. Amazon's loan has an 8% interest rate. What is the amount of Amazon's monthly payment? This question will accept as correct any value within $2 of the correct answer.
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