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Question 5 : J J takes out a conventional loan to purchase a car. The interest rate is 6 . 8 % compounded monthly and

Question

5

J J

takes out a conventional loan to purchase a car. The interest rate is

6.8 %

compounded monthly and JJ has six years to repay the $

10, 000

they borrowed. What are JJ

'

s monthly payments?

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