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You borrow $15763 to buy a car. You will have to repay this loan by making equal monthly payments for 9 years. The bank quoted

  1. You borrow $15763 to buy a car. You will have to repay this loan by making equal monthly payments for 9 years. The bank quoted an APR of 9%. How much is your monthly payment (in $ dollars)? $________.

    please provid formula and explenation, thank you!


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