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ophie buys a television with an add-on loan for $1600. If Sophie agrees to repay the balance in 15 equal monthly payments at an annual

ophie buys a television with an add-on loan for $1600. If Sophie agrees to repay the balance in 15 equal monthly payments at an annual simple interest rate of 7.2%, what are her monthly payments?

Question 5 options:

$114.35

$221.87

$116.27

$277.33

$106.67

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