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Suppose you want to borrow $35,000 for a new car. You can borrow at 8% per year, compounded monthly. If you take a 7-year loan,

Suppose you want to borrow $35,000 for a new car. You can borrow at 8% per year, compounded monthly. If you take a 7-year loan, what is your monthly payment? show work excel formula is ok as well

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