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QUESTION 4 10 poi A borrower takes out an interest-only loan at 6% for $1,000,000 with a 10 year term. What is the monthly payment

QUESTION 4 10 poi A borrower takes out an interest-only loan at 6% for $1,000,000 with a 10 year term. What is the monthly payment on this loan? (State your answer as a positive number, rounded to two decimal places.)

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