Question: Master Meter is planning on constructing a new $20 million facility. The company plans to pay 20% of the cost in cash and finance the

Master Meter is planning on constructing a new $20 million facility. The company plans to pay 20% of the cost in cash and finance the balance. How much will each monthly loan payment be if they can borrow the necessary funds for 30 years at 9% compounded monthly?

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