To start your consulting company, you took out a loan for $370,000. The loan has...
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Accounting
To start your consulting company, you took out a loan for $370,000. The loan has an interest rate of 1% per month compounded monthly. You would like to pay of the loan in 2 years. After the first monthly payment you will increase the payment by $300 per month. What is the initial monthly payment?
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