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Jack takes out a personal loan for $ 8400 to build a deck in his backyard. The interest rate is 9 % for 3 years,

Jack takes out a personal loan for $ 8400 to build a deck in his backyard. The interest rate is 9 % for 3 years, compounded monthly. What is true about this loan? Select the correct answer below: The monthly payment is $ 267.12 . The monthly payment is $ 233.33 . The monthly payment is $ 296.33 . The monthly payment is $ 311.11

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