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Word Problem 1 0 : Loan Repayment The company takes out a loan of $ 1 0 0 , 0 0 0 with an annual

Word Problem 10: Loan Repayment The company takes out a loan of $100,000 with an annual interest rate of 5%. If the loan is to be repaid in equal monthly installments over 5 years, what is the monthly payment amount?
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