Megan took out a loan of $85,600 at an interest rate of 11.5%, compounded monthly. She paid off the loan in full over the course of exactly twelve years. Assuming that Megan made the same payment every month for twelve years, what was her monthly payment?

Aprimary advantage of organizing economic activity within firms is thea. ability to coordinate highly complex tasks to allow for specialized division of labor. b. low administrative costs because of reduced bureaucracy. c. eradication of the principal-agent problem. d. high-powered incentive to work as salaried employees for an existing firm.