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12a. A car loan for $32,500 has an interest rate of 4.25% and is amortized over 72 months. What is the monthly payment on the
12a. A car loan for $32,500 has an interest rate of 4.25% and is amortized over 72 months. What is the monthly payment on the loan?(b)Same facts as #12 above. What is the balance of the loan after 3 years of payments
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