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Consider you borrow $30,000 from a bank to buy a new car. The car loan is an amortizing loan with these terms: 6.75% APR for

Consider you borrow $30,000 from a bank to buy a new car. The car loan is an amortizing loan with these terms: 6.75% APR for 60 months. What is your principal payment in the 1st month?

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