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You decide to borrow $360,000 to open a new boutique business. The bank charges an interest rate of 7% compounded monthly. If you pay back

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You decide to borrow $360,000 to open a new boutique business. The bank charges an interest rate of 7% compounded monthly. If you pay back the loan over 25 years, what will your monthly payments be (rounded to the nearest dollar)? $30,892 $1,687 $2,544 $15,517

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