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Gerritt wants to buy a car that costs $26,250. The interest rate on his loan is 5.29 percent compounded monthly and the loan is for

Gerritt wants to buy a car that costs $26,250. The interest rate on his loan is 5.29 percent compounded monthly and the loan is for 5 years. What are his monthly payments?

Multiple Choice

  • $523.81
  • $496.68
  • $509.31
  • $498.87
  • $482.24

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