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Maxs Kennels spent $220,000 to refurbish its current facility. The firm borrowed 60 percent of the refurbishment cost at 5.95 percent interest for six years.

Maxs Kennels spent $220,000 to refurbish its current facility. The firm borrowed 60 percent of the refurbishment cost at 5.95 percent interest for six years. What is the amount of each monthly payment?

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