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You are considering buying a new car. You are going to borrow $14,397. If you can negotiate a nominal annual interest rate of 12 percent

You are considering buying a new car. You are going to borrow $14,397. If you can negotiate a nominal annual interest rate of 12 percent (i.e. 12% equals the APR) and you wish to pay for the car over a 5-year period, what are your monthly car payments?

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