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Annuity Payment and EAR You want to buy a car, and a local bank will lend you $ 2 0 , 0 0 0 .

Annuity Payment and EAR
You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate would be 15%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent.
$

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