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Petty Marine Co. has a long-term plan to expand to a second location that's actually...

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Basic Math

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Petty Marine Co. has a long-term plan to expand to a second location that's actually near some water, so they want to start a monthly annuity to save $100,000 in capital over 4 years. The best rate they can find is 10%. Find the monthly payment. Round to the nearest cent. A monthly payment of $ would be necessary.

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