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You are in the market for purchasing an automobile. The automobile costs $30000. You can trade-in your old car for $5000. The Bank charges a

You are in the market for purchasing an automobile. The automobile costs $30000. You can trade-in your old car for $5000. The Bank charges a 5% interest rate per year on the amount borrowed. The duration of the loan is 4 years

What is a monthly payment?

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