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(Complex stream of cash flows) Roger Sterling has decided to buy an ad agency and is going to finance the purchase with seller financingthat is,

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(Complex stream of cash flows) Roger Sterling has decided to buy an ad agency and is going to finance the purchase with seller financingthat is, a loan from the current owners of the agency. The loan will be for $2,100,000 financed at a nominal annual interest rate of 6 percent. This loan will be paid off over 8 years with end-of-month payments along with a $550,000 lump-sum payment compounded annually at the end of year 8. That is, the $2.1 million loan will be paid off with monthly payments and there will also be a final payment of $550,000 at the end of the final month. How much will the monthly payments be? The monthly payments of the loan will be $ (Round to the nearest cent.)

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