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You bought a Jeep Grand Cherokee at $50,000 today with zero down payment. You borrow a 60-month car loan. Loan rate is 5.4% APR compounded

You bought a Jeep Grand Cherokee at $50,000 today with zero down payment. You borrow a 60-month car loan. Loan rate is 5.4% APR compounded monthly (i.e. the monthly rate is APR/12). What is the equal monthly payment if you plan to pay off the loan in 5 years?

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