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Task 3: Suppose the manufacturing firm wants to borrow 200,000 to acquire new machinery. The firm can obtain the loan at 8% per year, interest

Task 3: Suppose the manufacturing firm wants to borrow 200,000 to acquire new machinery. The firm can obtain the loan at 8% per year, interest is compounded monthly. If the firm takes a 4-year loan, what is the monthly payment if the payments will be made at the end of each month image text in transcribed

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