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A small business repairs its store. The builders charge them $350,000 which will be paid back in monthly installments over six years at 4.30% APR.

A small business repairs its store. The builders charge them $350,000 which will be paid back in monthly installments over six years at 4.30% 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?

Group of answer choices

$201.35

$249.53

$445.74

$373.35

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