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QUESTION

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.

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