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Frank just borrowed $5,600 to buy a car. The terms of the loan call for monthly payments for three years at a 8.4 percent rate

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Frank just borrowed $5,600 to buy a car. The terms of the loan call for monthly payments for three years at a 8.4 percent rate of interest. In addition, the loan payment is required on the first day of each month. What is the amount of each payment? $130.23 $176.52 |\$136.81 $175.29 51,705.83

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