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Mark wishes to determine how much he will pay monthly for his Ford Mustang loan. The cars retail price is $40,000 plus 15% sales taxes.

Mark wishes to determine how much he will pay monthly for his Ford Mustang loan. The cars retail price is $40,000 plus 15% sales taxes. The borrowing rate would be 5%, compounded monthly. The term of the loan would be 5 years. What would be his monthly payment?

I need the calculation details, thanks

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