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13-02-2024
Computers and Technology

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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? Show steps in Excel and formulas, please.

A) $160,925
B) $148,016
C) $141,982
D) $133,667
E) $128,740

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