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You borrow $15,000 with an interest rate of 12% APR compounded monthly to purchase a car. You make equal monthly payments for 3 years, with

You borrow $15,000 with an interest rate of 12% APR compounded monthly to purchase a car. You make equal monthly payments for 3 years, with the first payment due at the end of the first month. How much is each payment? What if the first payment is due today?

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