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To repay a loan of $7000, Krista must make month-end payments with 2.9% interest compounded monthly. Payments are deferred for 10 years and the loan will be completely paid off 8 years after the period of deferment.
Question 1: What is the size of the monthly payment?
Select one:
Option a. $109.00
Option b. $906.15
Option c. $109.27
Option d. $126.77
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