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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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