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Problem Two: You borrow S20.000 to buy a boat. The loan is to be paid off in monthly installments over one year at 18% interest

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Problem Two: You borrow S20.000 to buy a boat. The loan is to be paid off in monthly installments over one year at 18% interest annually first payment is due one month from today. What is the amount of each monthly payment? Show your work. (4 points)

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