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You borrow $5,000 from a bank. The loan requires monthly payments and will be fully amortized over 3 years or 36 months. The annual interest

You borrow $5,000 from a bank. The loan requires monthly payments and will be fully amortized over 3 years or 36 months. The annual interest rate is 6%. What is the monthly loan payment? Round your answer to 2 decimal places.

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