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You have taken out a loan of $32,000 to buy a new Saturn. The loan will be paid off in monthly instalments starting in one

You have taken out a loan of $32,000 to buy a new Saturn. The loan will be paid off in monthly instalments starting in one month over the next 4 years (48 payments). The interest rate on the loan is a stated rate of 8.25% per year. The bank doesnt tell you, but it is compounded quarterly. Find the amount of the monthly loan payment.

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