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Marc has purchased a new car for $15,000. He paid $2,500 as down payment and he paid the balance by a loan from his hometown

Marc has purchased a new car for $15,000. He paid $2,500 as down payment and he paid the balance by a loan from his hometown bank. The loan is to be paid on a monthly basis for two years charging 12 percent interest. How much are the monthly payments? How much interest will he pay in his first monthly payment? Please use excel formatting

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