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Bob bought a new car for $28,000 with a loan that will be amortized over five years. The best interest rate he got from his

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Bob bought a new car for $28,000 with a loan that will be amortized over five years. The best interest rate he got from his bank for the loan was 1.99 percent compounded annually. What is Bob's monthly car payment? How much interest was paid in the first car payment? How much interest will be paid over the entire life of the car loan? Bob's monthly car payment is $ (Use the TI BA II Plus financial calculator, and enter your answer rounded to the nearest cent.)

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