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Determine the monthly payment for the installment loan. Amount Financed ( P ) Annual Percentage Rate ( r ) Number of Payments per Year (

Determine the monthly payment for the installment loan.
Amount Financed(P)
Annual Percentage Rate(r)
Number of Payments per Year(n)
Time in Years(t)
$1000
6%
12
3
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Part 1
The monthly payment is $
enter your response here.
(Round to the nearest cent as needed.)

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