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Posted on Aug 09, 2024

Willis borrowed $ 2 3 0 0 0 to buy a car. He makes monthly payments that begin at the end of the first month.

Willis borrowed $

23000

to buy a car. He makes monthly payments that begin at the end of the first month. The interest rate on the loan is

5.79 %

compounded monthly. Willis will repay the loan over

5

years. What is the monthly payment on the loan?

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