Question: If Dave had borrowed $ 5 0 0 for one year at an APR of 5 percent, compounded monthly, what would have been his monthly

If Dave had borrowed $500 for one year at an APR of 5 percent, compounded monthly, what would have been his monthly loan payment? Use Exhibit 1B-4.(Do not round your intermediate calculations. Round your final answer to 2 decimal places. Omit the "$" sign in your response.)
PMT $

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