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A small business repairs its store. The builders charge them $450,000 which will be paid back in monthly installments over six years at 5.30% APR.

A small business repairs its store. The builders charge them $450,000 which will be paid back in monthly installments over six years at 5.30% APR. The builders will reduce this rate to 3.50% APR if they pay $4800 up front. By approximately how much will this reduce the monthly loan repayments? $201.35 $249.53 $445.74 $373.35

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