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Suppose you need to borrow $20,000 to take a vacation trip to Osaka. The bank offers a 36 -month instalment plan with an interest rate

image text in transcribed Suppose you need to borrow $20,000 to take a vacation trip to Osaka. The bank offers a 36 -month instalment plan with an interest rate of 6% per year. How much would your monthly payment be? ( 3 marks)

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