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Jody is planning to buy a car for $20,000, putting 20% down in cash, with the rest going towards a loan. The bank tells her
Jody is planning to buy a car for $20,000, putting 20% down in cash, with the rest going towards a loan. The bank tells her that the interest rate on the loan will be 8% per year, which is then compounded monthly, for a three-year loan. What is Jodys monthly payment going to be?
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