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Posted on Sep 07, 2024

OHaganBooks.com is seeking a $ 2 4 0 , 0 0 0 loan to finance its continuing losses. One of the best deals available is

OHaganBooks.com is seeking a $

240, 000

loan to finance its continuing losses. One of the best deals available is offered by Industrial Bank, which offers a

10 -

year

3.5 %

loan. What would the monthly payments be for this loan?

(

Assume interest is compounded monthly. Round your answer to the nearest cent.

)

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