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Custom Jobsâ, Inc. borrows $244057 from the bank at 8.8 percent per year,

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Custom Jobsâ, Inc. borrows $244057 from the bank at 8.8 percent per
year, compounded annually, to purchase new vehiclesâ. This loan is to be repaid in equal annual installments at the end of each year over the next 6 years. How much will each annual payment be?
Round the answer to two decimal places.

 
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