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You decided to take out a loan to buy a car for $20,000. You are financing the loan for 60 months given an annual percentage

You decided to take out a loan to buy a car for $20,000. You are financing the loan for 60 months given an annual percentage rate of 6% compounded monthly. A) What is the monthly effective interest rate? B). What is the monthly payment to repay the loan? C) Show in a table the beginning and ending cash balance for each month.

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