Question: Brown: Attempt 2 Show Incorrect Only Next Page Page 3 of 4 A Question 3 (1 point) Retake question A commercial bank will loan your

Brown: Attempt 2 Show Incorrect Only Next Page Page 3 of 4 A Question 3 (1 point) Retake question A commercial bank will loan your client $99,544 for 5 years to buy a boat. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 9.39 percent of the unpaid balance compounded monthly. What is the amount of the monthly payments? Round the answer to two decimal places. Your Answer: Answer Next Page Page 3 of 4

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