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please show the solving 1. Assume you take out a loan of worth $29,000 at 12% compounded monthly over four years. You already know that
please show the solving
1. Assume you take out a loan of worth $29,000 at 12% compounded monthly over four years. You already know that 12% represents the market interest rate. If the average monthly general inflation rate fis expected to be 0.2%, determine the equivalent equal monthly payment series in constant (inflation-adjusted) dollars. The equivalent equal monthly payment series in actual dollars is $ The equivalent equal monthly payment series in constant dollars is $ (Round to the nearest integer.) (Round to the nearest integerStep by Step Solution
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