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The loan will be for $100,000 financed at a 8% nominal annual interest rate.
The loan will be for $100,000 financed at a 8% nominal annual interest rate. This loan will be paid off over 10 years with end-of-month payments along with a $60, 000 lump-sum payment compounded annually at the end of year 10.
How much will the monthly payments be?
plz show the works or formulas.