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Nona purchased a new car earlier today for $32,000. She financed the entire amount using a five-year loan with a 3 percent interest rate (compounded

Nona purchased a new car earlier today for $32,000.

She financed the entire amount using a five-year

loan with a 3 percent interest rate (compounded

monthly). (b) How much will Nona owe on the loan

after she makes payments for two years (i.e., after

24 payments)?

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