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A bank offers you a loan for $20,000 with an 12% APR. You will make monthly payments with a 5-year payment schedule. What is the

A bank offers you a loan for $20,000 with an 12% APR. You will make monthly payments with a 5-year payment schedule. What is the monthly annuity payment under this schedule? 1) $2,402.68 ) 2) $444.89 3) $4,120.80 4) $244.89

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