Question: Calculations and the equations used to solve this question will be best thank you! A loan of $10,000 is to be repaid in 48 equal

Calculations and the equations used to solve this question will be

Calculations and the equations used to solve this question will be best thank you!

A loan of $10,000 is to be repaid in 48 equal monthly installments with the first one paid one month after the loan is made. The nominal annual interest rate is 12% compounded monthly. What is the monthly payment

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