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On January 1, 2020, Cameron decided to start borrowing $1000 at the end of each month for four years. She does not have to repay
On January 1, 2020, Cameron decided to start borrowing $1000 at the end of each month for four years. She does not have to repay the loan until January 1, 2025. Cameron wants to pay off the loan with 24 level monthly payments starting on January 1, 2025. If the nominal annual rate of interest convertible monthly is 4% for the first two years, 6% for the next two years, and 8% thereafter, determine the amount of Camerons level monthly payments.
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