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To help open up a restaurant, Lamar borrowed money from an online lending company. He took out a personal, amortized loan for $ 4 1
To help open up a restaurant, Lamar borrowed money from an online lending company. He took out a personal, amortized loan for $ at an interest rate of with monthly payments for a term of years.
For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas.
a Find Lamar's monthly payment.
b If Lamar pays the monthly payment each month for the full term, find his total amount to repay the loan.
c If Lamar pays the monthly payment each month for the full term, find the total amount of interest he will pay.
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