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What amortization payment would you need to make every month, at 12% interest compounded monthly, to pay off a loan of $8,500 in 3 years?

What amortization payment would you need to make every month, at 12% interest compounded monthly, to pay off a loan of $8,500 in 3 years? (Use Table 12-2 from your text)

$3,538.97

$282.32

$197.32

$279.53

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