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Linda borrows $18,500 from the bank at 12% APR interest compounded monthly to be repaid in 36 equal monthly installments. What is her monthly payment?

Linda borrows $18,500 from the bank at 12% APR interest compounded monthly to be repaid in 36 equal monthly installments. What is her monthly payment? What is the interest paid in the first month? What is the principal paid in the first month?

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