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Posted on Sep 20, 2024

You are borrowing $ 1 2 , 0 0 0 to buy a car. Your interest rate is quoted as an APR of 7 .

You are borrowing $

12, 000

to buy a car.

Your interest rate is quoted as an APR of

7.6 %,

based on monthly compounding.

The loan is for

5

years.

How much is each monthly loan payment?

To nearest $

0.01

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