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. Suppose you want to purchase a new car. It will cost 3% per year, compounded monthly. The car has an MSRP of $35,000. You

. Suppose you want to purchase a new car. It will cost 3% per year, compounded monthly. The car has an MSRP of $35,000. You would like to pay off the car in 3 years. What is your monthly payment ?

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