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You purchased a car 4 years ago using a $35,000, 6-year loan. The quoted interest rate was 6%, with monthly payments for this ordinary annuity.

You purchased a car 4 years ago using a $35,000, 6-year loan. The quoted interest rate was 6%, with monthly payments for this ordinary annuity. What is the loan balance after making the 4 years worth of payments?

$13,022.50

$13,049.52

$13,087.61

$21,912.39

None of the above

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