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Carlos is considering buying a truck on credit. He has an offer from two dealerships. Dealership #1: 5-year, $32,000 truck loan at 3.9% interest compounded

Carlos is considering buying a truck on credit. He has an offer from two dealerships. Dealership #1: 5-year, $32,000 truck loan at 3.9% interest compounded monthly. Dealership #2: 5-year, $31,500 truck loan at 4.5% interest compounded monthly. What is the monthly payment for each loan? Which dealership provides the better deal?

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