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Bill receives a $9000 loan from his bank. He must make equal monthly payments for four years. The annual interest rate is 6% per year,

Bill receives a $9000 loan from his bank. He must make equal monthly payments for four years. The annual interest rate is 6% per year, compounded monthly. What is his monthly payment?

A) $194.23

B) $205.46

C) $225.16

D) 211.37

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