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You are considering buying an antique car priced today at $50,000. The bank has offered you a loan to buy it. The loan is a

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You are considering buying an antique car priced today at $50,000. The bank has offered you a loan to buy it. The loan is a 5-year loan for which you will make quarterly payments (at the end of each quarter). The APR for the loan is 16%. How much is the quarterly payment? 1) $3,679.09 2) $1679.09 e 3) $15,270.47 O4) $8.001.09

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