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Thanks P n Suppose that you borrow $16,000 for three years at 6% toward the purchase of a car. Use PMT = to find the

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P n Suppose that you borrow $16,000 for three years at 6% toward the purchase of a car. Use PMT = to find the monthly payments and the total interest [ 1 - ( 1 + 5 ) : ] for the loan. . . . The monthly payment is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $. (Use the answer from part (a) to find this answer. Round to the nearest cent as needed.)

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