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Elin purchase a used car for $10,000. She wrote a check for $2,000 as a down payment for the car and financed the $29,156 balance.
Elin purchase a used car for $10,000. She wrote a check for $2,000 as a down payment for the car and financed the $29,156 balance. The annual percentage rate (APR) is 9% compounded monthly, and the loan is to be repaid in equal monthly installments over the next four years. How much is Elin monthly car payment?
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