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A commercial bank will loan you $20,000 for four years to buy a car. The loan must be repaid in 60 equal monthly payments. The

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A commercial bank will loan you $20,000 for four years to buy a car. The loan must be repaid in 60 equal monthly payments. The annual interest rate on the loan is 6.00 percent of the unpaid balance. How large are the monthly payments? $469.70 $369.82 $282.43 $521.98 $386.66

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