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A contract can be fulfilled by making an immediate payment of $11,600 or equal payments at the end of each month for 4 years

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A contract can be fulfilled by making an immediate payment of $11,600 or equal payments at the end of each month for 4 years. What is the size of the monthly payments at 11.2% compounded monthly? The payment is $0 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)