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To buy a condo, Sally takes out a 15-year mortgage of 100000 dollars at a nominal interest rate of 6.6 percent convertible monthly, with the

To buy a condo, Sally takes out a 15-year mortgage of 100000 dollars at a nominal interest rate of 6.6 percent convertible monthly, with the first payment due in one month. If she will make monthly payments that increase by 0.01 percent per month, how much is her first payment?

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