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Question 8 Suppose you want to purchase a new car. It will cost 5% per year, compounded monthly. The car has an MSRP of $55,000.

Question 8 Suppose you want to purchase a new car. It will cost 5% per year, compounded monthly. The car has an MSRP of $55,000. You would like to pay off the car in seven years. What is your monthly payment

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