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An auto repair shop borrowed $12,000 to be repaid by monthly payments over 4 years. Interest on the loan is 3% compounded monthly. (a) What

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An auto repair shop borrowed $12,000 to be repaid by monthly payments over 4 years. Interest on the loan is 3% compounded monthly. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 37? (c) What is the interest paid on payment 38? (d) How much principal is repaid in payment 38

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