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Ravi Shankar plans to purchase a car for $52,600 and he has $8,600 as a down payment. He will need to borrow the rest and

Ravi Shankar plans to purchase a car for $52,600 and he has $8,600 as a down payment. He will need to borrow the rest and plans to get a loan for 5 years at 5.60%. His monthly payments on the loan will be closest to:

A. $842.48.

B. $637.15.

C. $1.048.49.

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