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Tobi just purchased his dream car with financing from his bank. The amount of the loan is $40000 to be repaid over 48 months. The

Tobi just purchased his dream car with financing from his bank. The amount of the loan is $40000 to be repaid over 48 months. The interest rate on this loan is 4%. How much money will he still owe the bank at the end of the second month? (15 pts)

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