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Emile bought a car for $26,000 three years ago. The loan had a 5 year term at 7% interest rate, and Emile has been making

Emile bought a car for $26,000 three years ago. The loan had a 5 year term at 7% interest rate, and Emile has been making monthly payments for three years. How much does he still owe on the car? Please explain it step by step.

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