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Consider financing the purchase of a new $60,000 boat from Nautical Marina. The five-year loan specifications establish an 8.2% APR. The buyer is required to

Consider financing the purchase of a new $60,000 boat from Nautical Marina. The five-year loan specifications establish an 8.2% APR. The buyer is required to make monthly payments starting immediately after approval. What is the expected payment at the beginning of each month?

A. $1,214.04

B. $1,222.33

C. $3,345.70

D. $4,587.68

E. $4,963.87

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