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The owner of a construction company purchased a cement mixer truck for $180,000 and made a down payment of $45,000. The remaining balance was financed

The owner of a construction company purchased a cement mixer truck for $180,000 and made a down payment of $45,000. The remaining balance was financed for 10 years at an annual interest rate of 7.75% compounded monthly. Find the monthly payment (in dollars). (Round your answer to the nearest cent.)

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