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E - Loan, an online lending service, recently offered 4 8 - month auto loans at 3 . 9 % compounded monthly to applicants with

-

Loan, an online lending

service, recently offered

48 -

month auto loans at

3.9 %

compounded monthly to applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of $

398,

how much can you borrow from

-

Loan?

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