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You just purchased a car and signed a bank loan. According to the contract, you pay an equal amount at the end of each
You just purchased a car and signed a bank loan. According to the contract, you pay an equal amount at the end of each month. You borrowed $36,500 to be repaid over 7 years. The interest rate is 9%, compounding monthly. How much ($) is your monthly payment? Select one: a. $639.91 b. $674.65 c. $587.25 d. $678.98 e. $657.93
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