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Business & Finance Assignment | custom Homework Help

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December 28th, 2019

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.

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A) $123.45

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C) $95.91

D) $130.11

E) $96.46

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