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6) Assume you just bought a new car and now have a car loan to repay. The amount of the principal is $22,000, the loan

6) Assume you just bought a new car and now have a car loan to repay. The amount of the principal is $22,000, the loan is at 5.9% APR, and the monthly payments are spread out over 6 years. What is the loan payment? Use a calculator to determine your answer.

A) $305.56

B) $363.57

C) $331.14

D) $297.70

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