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Geegee checks Daniels credit rating and determines that he will qualify for a 6.8% auto loan, and they agree that his trade-in is worth $7,500.

  1. Geegee checks Daniels credit rating and determines that he will qualify for a 6.8% auto loan, and they agree that his trade-in is worth $7,500. The cost of the car is $37,900. If he is planning to finance the loan for 4 years, how much does he have to pay every month?

I need the formula (not the excel formula). Thanks!

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