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You are shopping for a new car. The car that you selected costs $27,534. The dealer is offering 5-year financing. Based on the dealer's APR

You are shopping for a new car. The car that you selected costs $27,534. The dealer is offering 5-year financing. Based on the dealer's APR quote, you figure out that the Effective Annual Rate (EAR) also called Annual Percentage Yield (APY) will be 3.12%. Compute your monthly payment

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