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Q 1 0 . Suppose you take a 5 - year $ 2 5 , 0 0 0 car loan. If the loan carries the

10 .

Suppose you take a

5 -

year $

25, 000

car loan. If the loan carries the interest of

3.5 %

APR, but the interest is compounded monthly, what would be your monthly loan payment? a

.

416.67

.

454.79

.

461.42

.

1, 002.22

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