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You borrow $6,730 to purchase furniture for your house. You agree to make monthly payments for 5 years to pay for the furniture. If the

You borrow $6,730 to purchase furniture for your house. You agree to make monthly payments for 5 years to pay for the furniture. If the interest rate is 6 percent with monthly compounding, how much are your monthly payments? Assume the first payment is made one month after purchase. $96.46 $130.11 $124.93 $123.45 $95.91

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