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You are buying a new vehicle for $ 3 0 , 7 0 0 . You will make a down payment of $ 3 ,

You are buying a new vehicle for $30,700. You will make a down payment of $3,600. The remainder of the cost will be financed over a period of 5 years. You will repay the loan by making equal monthly payments. Your quoted annual interest rate is 6% with monthly compounding of interest. (The first payment will be due one month after the purchase date.) What will your monthly payment be?
A.
$ 574.36
B.
$ 523.92
C.
$ 593.52
D.
$ 503.57

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