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Business, 07.05.2021 23:30 williamsa24mr238org

Niles needs 19,000 to purchase a new car. Niles borrows from his pension plan to pay off the loan because the pension plan loan interest rate is 6% nominal annual rate of interest compounded monthly. The loan payments are to be made at the end of each month. To pay off this loan he will make n payments of 472.82 and an additional smaller payment at the same time as the last 472.82 payment. What is the additional smaller payment (rounded to dollars)

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Niles needs 19,000 to purchase a new car. Niles borrows from his pension plan to pay off the loan be...
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