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You are considering a loan for an upcoming purchase (car, house, etc.). You will need $5,208,840.56 for this purchase. The bank will lend to you

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You are considering a loan for an upcoming purchase (car, house, etc.). You will need $5,208,840.56 for this purchase. The bank will lend to you at 3.18% annual interest (APR). The bank expects you to make a payment every quarter, for 32 years. If all the payments must be the same, what will be the per period payment needed to pay off the loan on time? Answer =

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