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16) A car loan for $19,500 has an interest rate of 4.25% and is amortized over 60 months. What is the monthly payment on the

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16) A car loan for $19,500 has an interest rate of 4.25% and is amortized over 60 months. What is the monthly payment on the loan? a. $ 451.23 b. 133.45 c361.33 . d. 351.24 17) Using the same facts as #16, what is the balance of the loan after 3 full years of payments? a. $7.985.75 b. 8.299.28 Zero d. 4.830.87

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