You are planning to borrow 100000 for a major purchase to, Financial Management

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You are planning to borrow 100000 for a major purchase to

You are planning to borrow $100,000 for a major purchase, to be repaid in equal monthly installments over the next ten years. If interest rates are 13% per annum (compounded monthly), how much should each instalment be, if paid at the end of the month (to the nearest cent)?

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