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Posted on Jul 27, 2024

Suppose you want to buy a motorcycle for $ 1 9 , 5 0 0 . You obtain a credit union loan for the balance

Suppose you want to buy a motorcycle for $

19, 500 .

You obtain a credit union loan for the balance at

4.4 %

compound monthly for

60

months. How much will your monthly payment be

?

Use present value formula.

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