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You have decided to buy a car that costs $32,600. Since you do not have a big down payment, the lender offers you a loan

You have decided to buy a car that costs $32,600. Since you do not have a big down payment, the lender offers you a loan with an APR of 6.35 percent compounded monthly for 5 years with the first monthly payment due today. What is the amount of your loan payment

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