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Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $60,000 loan at 3%

Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $60,000 loan at 3% for 36 months. What is his monthly payment by formula? (Round your answer to the nearest cent.)

Monthly Payment: $____

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