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PUT ANSWER IN TWO DECIMAL PLACES 18. Your best friend needs to borrow $5000. She can begin making monthly payments on the debt after she

PUT ANSWER IN TWO DECIMAL PLACES image text in transcribed
18. Your best friend needs to borrow $5000. She can begin making monthly payments on the debt after she graduates in 9 months. If an appropriate rate of interest is 7.7% annually with monthly compounding, what should her monthly payments be to repay you in 12 payments (12 months of payments. 21 (12 + 9) months total)

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