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A company 3 years ago borrowed $40,000 to pay for a new machine tool, agreeing to repay the loan in 100monthly payments at an annual nominal intrest...

A company 3 years ago borrowed $40,000 to pay for a new machine tool, agreeing to repay the loan in 100monthly payments at an annual nominal intrest rate of 12% compounded monthly. The company now wants to pay off the loan. How much would this payment be, assuming no penalty costs for early payout.

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536412_ECO.xls

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