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You have decided to buy a car that costs $23,800. Since you do not have a big down payment, the lender offers you a loan

You have decided to buy a car that costs $23,800. Since you do not have a big down payment, the lender offers you a loan with an APR of 5.91 percent compounded monthly for 7 years with the first monthly payment due today. What is the amount of your loan payment?

		$228.32
		$229.44
		$344.96
		$287.20
		$346.66

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