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Luke can afford monthly payments of 40 for 4 years, starting 4 month from now. The annual interest rate is 5 percent. How much can

Luke can afford monthly payments of 40 for 4 years, starting 4 month from now.

The annual interest rate is 5 percent. How much can he afford to borrow to buy a laptop?

Select one:

A. 1606.14

B. 1715.39

C. 1641.51

D. 1571.76

E. 1677.92

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