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Jonathan takes a 10-year loan. He borrows 50,000 to be paid back with level monthly payments at the end of every month. The interest is

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Jonathan takes a 10-year loan. He borrows 50,000 to be paid back with level monthly payments at the end of every month. The interest is charged on this loan at a nominal rate of Interest of 10% convertible monthly. A week before the due date of the 50 payment Jonathan decides that one week from now, when the 50 payment is due, he will just pay off the loan, In full with a single payment. Find his payment A 35,300 8.34,600 6.35.100 0 35,600 34,940

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