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You have saved $500 to buy an electric scooter that costs $1800. You plan to borrow the rest of the purchase price from the bank.

You have saved $500 to buy an electric scooter that costs $1800. You plan to borrow the rest of the purchase price from the bank. The bank is offering a 3 year loan at 4% APR with monthly payments. Assuming you take this loan, what will your monthly payment be?

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