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Tyler purchased a machine for $ 3 5 , 0 0 0 using a 7 year loan at 6 . 3 0 % compounded semi

Tyler purchased a machine for $

35, 000

using a

7

year loan at

6.30 %

compounded semi

-

annually. If the first payment was made one month from when he purchased the machine, what is the size of the monthly payments?

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