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you borrowed $ 1 2 0 0 0 to buy a new car from a bank at an interest rate of 9 % compounded monthly.

you borrowed $12000 to buy a new car from a bank at an interest rate of 9% compounded monthly. This loan will be repaid in 48 equal monthly installments over four years. Immediately after the 20th payment, you desire to pay the remainder of the loan in a songle payment. Compute this lump-sum amount

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