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Suppose you want to borrow $20,000 for a new car. You can borrow at 8% per year, compounded monthly (8/12 = .66667% per month). If

Suppose you want to borrow $20,000 for a new car.

You can borrow at 8% per year, compounded monthly (8/12 = .66667% per month).

If you take a 4 year loan, what is your monthly payment?

please solve using algebra

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