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Suppose that you borrow $37,000 at 9% compounded monthly over five years. Knowing that the 9% represents the market interest rate, you realize that the

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Suppose that you borrow $37,000 at 9% compounded monthly over five years. Knowing that the 9% represents the market interest rate, you realize that the monthly payment in actual dollars will be $768.06. If the average monthly general inflation rate is expected to be 0.2%, determine the equivalent equal monthly payment series in constant dollars

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