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2. Say you purchase a computer for $1300 at 7% interest and want to have it paid off in 48 months. Use the simple interest

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2. Say you purchase a computer for $1300 at 7% interest and want to have it paid off in 48 months. Use the simple interest formula. a) Calculate the monthly payment necessary to pay off the principal and the interest. b) Calculate the APR. Write out the formula first to show your work

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