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You have agreed to a $140,000 fixed-rate loan from First National Bank today and promise to repay the loan with 36 equal monthly payments at

You have agreed to a $140,000 fixed-rate loan from First National Bank today and promise to repay the loan with 36 equal monthly payments at an APR of 7%. How large are your monthly payments? Use a financial calculator to determine your answer. Make sure you set up your calculator for the appropriate number of payments per year accordingly

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