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You are buying a pre-owned car today at a price of $8,500. You are paying $300 down in cash and financing the balance for 36

You are buying a pre-owned car today at a price of $8,500. You are paying $300 down in cash and financing the balance for 36 months at 7.75 percent. What is the amount of each monthly loan payment?

A.

$256.01

B.

$312.23

C.

$318.47

D.

$265.37

E.

$284.40

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