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Phil can afford $160 a month for 5 years for a car loan. If the interest rate is 3.9 percent compounded monthly, how much can

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Phil can afford $160 a month for 5 years for a car loan. If the interest rate is 3.9 percent compounded monthly, how much can he afford to borrow to purchase a car? O $8,883.36 O $7,901.71 O $9,600.00 O $8,448.00 $8,709.18

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