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Posted on Aug 01, 2024

A new car loan for $ 2 0 , 0 0 0 has an APR of 6 . 5 % compounded daily. If the loan

A new car loan for $

20, 000

has an APR of

6.5 %

compounded daily. If the loan requires

four years of monthly payments, with the first payment coming in one month, how large will

the payments be

?

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