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You are thinking about buying a new car. The price of the car is $25,000. You have $5,000 to put towards the down payment and

You are thinking about buying a new car. The price of the car is $25,000. You have $5,000 to put towards the down payment and want to take out a car loan for the rest. If you can negotiate an annual interest rate of 5.2 percent APR (with monthly compounding) and wish to pay for the car over a 3-year period, what would be your monthly payment

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