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If you borrow $25,000 for four years to buy a boat at an interest rate of 8.0% per year, what is the monthly loan payment?

If you borrow $25,000 for four years to buy a boat at an interest rate of 8.0% per year, what is the monthly loan payment? 1) $599,44 2) $617.75 2 3) $618.98 4) $610.32 5) $603.14

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