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You borrow $18,000 to buy a car. The terms of the loan call for monthly payments for 2 years at a 12 percent rate of

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You borrow $18,000 to buy a car. The terms of the loan call for monthly payments for 2 years at a 12 percent rate of nominal interest. What is the amount of each payment? (Rounding may be a problem. Choose the answer option that is closest to your final answer.) Select one: O A. $964 O B. $847 O C. $896 D. $763 E. $1,072

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