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A friend claims to have found a really great deal at a local loan agency not listed in the phone book. The agency claims that
A friend claims to have found a really great deal at a local loan agency not listed in the phone book. The agency claims that its rates are so low that you can borrow $10,000 with a term of three years for a monthly payment of $205. Find the difference between monthly payments (by Rule of Thumb 4.3) and monthly payments advertised by the local loan agency. Give your answer as a positive number to the nearest cent. \":1
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