Question: Alpha Corp. has decided to take out a large corporate loan to purchase new equipment. The firm will finance $3.25 million over 10 years at

Alpha Corp. has decided to take out a large corporate loan to purchase new equipment. The firm will finance $3.25 million over 10 years at 6.75% APR through MegaBank. How much are the monthly payments for Alpha?

Select one:

$16,453

$41,562

$37,318

$28,911

$27,083

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