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convincing, the lender agreed to reduce the interest rate from 35% down to a much more reasonable 7.125%, but compounded monthly. However, the lender is

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convincing, the lender agreed to reduce the interest rate from 35% down to a much more reasonable 7.125\%, but compounded monthly. However, the lender is demanding a steep down payment and several fees. These are presented in the table below: Given this arrangement, what would your monthly payment be? a. $40,800 b. $489,604 c. $30,661 d. $30,378

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