Question 1200913
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What monthly payment is required to amortize a loan of $50,000 over 10 years if interest at the rate of 6%/year is charged on the unpaid balance and interest calculations are made at the end of each month? (Round your answer to the nearest cent.)

<font color = red><font size = 4><b>Correct answer: $555.10</font></font></b></pre>