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16) A car loan for $33,550 has an interest rate of 5.25% and is amortized over 60 months. What is the monthly payment on the

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16) A car loan for $33,550 has an interest rate of 5.25% and is amortized over 60 months. What is the monthly payment on the loan? a. $425.78 b. $679.92 c. $636,98 d. $351.24 17) Using the same facts as 116, what is the balance of the loan after 3 full years of payments? a. 514,482 b. $8,299.28 c. Zero d. $15,942

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