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Posted on Jul 28, 2024

Kristen purchased a machine for $ 6 0 , 0 0 0 using a 9 year loan at 6 . 9 0 % compounded quarterly.

Kristen purchased a machine for $

60, 000

using a

9

year loan at

6.90 %

compounded quarterly. If the first payment was made one month from when she purchased the machine, what is the size of the monthly payments?

Round to the nearest cent

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