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Problem 1: (25 points) Marc Collins is purchasing a loan through the dealer for the rest at a nominal annual rate of 12.31 % per

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Problem 1: (25 points) Marc Collins is purchasing a loan through the dealer for the rest at a nominal annual rate of 12.31 % per year compounded semi-annually for four years. What is his monthly payment? ,a new car for $26,000. Mike is going to put $10000 down payment and will take out

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