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. Straight bank loan . Left Bank has a standing rate of 8% (APR) for all bank loans and requires monthly payments. What is a

. Straight bank loan. Left Bank has a standing rate of 8% (APR) for all bank loans and requires monthly payments. What is a monthly payment if a loan is for (1) $100,000 for five years, (2) $250,000 for ten years, or (3) $1,000,000 for twenty-five years? What is the effective annual rate of each of these loans?

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