Mr. Spend has accumulated credit card loans of $15,000 and is finding it difficult to make payments. His local bank has offered him a consolidation loan to pay off all the credit card loans. The loan calls for monthly payments for 10 years and has a nominal interest rate of 5.99% (APR). What will Mr. Spends monthly payments be if he takes the loan?
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Mr. Spend has accumulated credit card loans of $15,000 and is finding it difficult to make payments....
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