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In repayment of a loan, Nicholas agreed to pay a financial institution $2,800 at the beginning of each month over a 3 year period, with
In repayment of a loan, Nicholas agreed to pay a financial institution $2,800 at the beginning of each month over a 3 year period, with the first payment due immediately. Assuming the interest rate on the loan is 3.6%, what is the present value of the loan? Round answer to the nearest whole dollar. Do not use a negative sign with your answer. $ 93,173 x
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