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Flower is buying a car. She takes out a 4-year loan for $47,000 at a 6% annual rate compounded monthly. Her monthly payment is $1103.80.

Flower is buying a car. She takes out a 4-year loan for $47,000 at a 6% annual rate compounded monthly. Her monthly payment is $1103.80. What is the interest for her first payment? 2. How much principal is paid in the first payment

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