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You are borrowing $30,000 to buy a car. The terms of the loan call for monthly payments for 5 years at 7 percent interest (annual).

You are borrowing $30,000 to buy a car. The terms of the loan call for monthly payments for 5 years at 7 percent interest (annual). What is the amount of each payment? Select the choice that is closest to your answer. $556 $476 O $594 $489

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