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Bart needs to borrow $7,000 from a local bank. He compares the monthly payments for a 3% loan for three different periods of time. M=((1+12r)(12t)1)(P(12r)(1+12r)(12t))

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Bart needs to borrow $7,000 from a local bank. He compares the monthly payments for a 3% loan for three different periods of time. M=((1+12r)(12t)1)(P(12r)(1+12r)(12t))

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