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A woman purchases a $28,900 car by paying $5,000 in cash and borrowing a loan for the remianing balance. The loan charges an annual interest

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A woman purchases a $28,900 car by paying $5,000 in cash and borrowing a loan for the remianing balance. The loan charges an annual interest rate of 8.4% and is compounded monthly. Suppose the woman makes regular monthly payments (at the end of each compound period) of R dollars. Let D represent the woman's debt n months after borrowing the loan. (a) (6 points) Construct an iterative equation that models how the woman's debt changes from one month to the next, and state the initial value. 1 (b) (8 points) If the woman wants to pay off her loan in exactly 6 years, what should her monthly payment R be? Round your answer to the nearest penny

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