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Your friend needs to borrow $26,995 from a credit union to pay tuition at a local...

Your friend needs to borrow $26,995 from a credit union to pay tuition at a local college. The credit union charges a 3.5% nominal annual rate. The terms of the loan require that your friend make 12 equal end of month payments each year for 4 years and then an additional final ballon payment of $7,500 at the end. What would the equal monthly payments be
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