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A bank offers to loan you $33,550 for six years to buy a car. The loan shall be paid back in 72 monthly payments. The

A bank offers to loan you $33,550 for six years to buy a car. The loan shall be paid back in 72 monthly payments. The interest rate offered on the loan is 5.70% compounded monthly. What monthly payment should you expect on the loan?

a. $551.28 b. $587.43 c. $435.31 d. $559.32

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