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Determine the periodic payments PMT on the given loan or mortgage. HINT [See Example 5.] (Round your answer to the nearest cent.) $400,000 borrowed at

Determine the periodic payments PMT on the given loan or mortgage. HINT [See Example 5.] (Round your answer to the nearest cent.)

$400,000 borrowed at 4% for 5 years, with quarterly payments

PMT = $

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