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Tim Dodson has borrowed $8,600 to pay for his new car. The annual interest rate on the loan is 8.4 percent, and the loan needs

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Tim Dodson has borrowed $8,600 to pay for his new car. The annual interest rate on the loan is 8.4 percent, and the loan needs to be repaid in monthly installments over the next four years. How much will be his monthly payment if he begins his first payment today? $211.57 $210.10 $2619.68 $247.25

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