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You are going to take out a loan to buy a car. You can afford to make payments of $500 per month. You will make

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You are going to take out a loan to buy a car. You can afford to make payments of $500 per month. You will make the payments at the beginning of each month. The bank offers you a loan for 4 years at 6% interest, compounded monthly. How much will the bank be willing to lend you

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