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You just obtained a 48-month auto loan to finance your first new car with a price tag of $35,000. It is time for you

You just obtained a 48-month auto loan to finance your first new car with a price tag of $35,000. It is time for you to figure out your monthly payment on this auto loan so that you can make better budgeting decisions. The 48-month loan carries an APR rate of 5.5 percent. Please compute your monthly payment. Sample answer format: 2,356.87

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