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Nonannual compounding using a calculator ) Walter is thinking about trading cars. He estimates he will still have to borrow $22,000 to pay for his
Nonannual compounding using a calculator)
Walter is thinking about trading cars. He estimates he will still have to borrow $22,000
to pay for his new car. How large will Walter's monthly car loan payment be if he can get a 5-year
(60equal monthly payments) car loan from the university's credit union at an APR of 5.5 percent compounded monthly?
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