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Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the
Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. You borrow $17,000 with a term of four years at an APR of 8% to buy a truck. What is your monthly payment? (Round your answer to the nearest cent.) $ How much total interest is paid? (Round your answer to the nearest cent.) $
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