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OHaganBooks.com is seeking a $250,000 loan to finance its continuing losses. One of the best deals available is offered by Industrial Bank, which offers a

OHaganBooks.com is seeking a $250,000 loan to finance its continuing losses. One of the best deals available is offered by Industrial Bank, which offers a 10-year 7.5% 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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