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Thank you for your help! :) You want to buy a new sports car from Roy's Cars for $61,800. If you borrow this amount, your
Thank you for your help! :)
You want to buy a new sports car from Roy's Cars for $61,800. If you borrow this amount, your will repay this loan over 5 years in equal monthly payments, making payments at the beginning of each monthly period, starting on the first day of the loan. Assume 5.2 percent APR with monthly compounding. What will your monthly payment be? A. $634.90 B. $750.98 C. $995.23 D. $1,166.86 E. $1,171.91Step by Step Solution
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