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N3 4.81. A loan of$10,000is to be financed over a period of 24 months. The agency quotes a nominal rate of8%for the first 12 months

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4.81. A loan of$10,000is to be financed over a period of 24 months. The agency quotes a nominal rate of8%for the first 12 months and a nominal rate of9%for any remaining unpaid balance after 12 months, which is compounded monthly. Based on these rates, what equal end-of-the-month payment for 24 months would be required to repay the loan with interest?

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