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    Mathematics
  3. Study Set
    Elementary Technical Mathematics
  4. Exam
    Exam 1: Basic Concepts
  5. Question
    Find the Monthly Payment for the Loan
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Find the Monthly Payment for the Loan

Question 1

Question 1

Short Answer

Find the monthly payment for the loan.
Finance $500,000 for an apartment complex with a 12.3% 10-year loan.
Please round the answer to the nearest cent.
The monthly payment is $ __________.

Correct Answer:

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