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You purchased a car using some cash and borrowing 516,000 (the present value) for 45 months at 7% per year, Caloulate the monthly payment (anhuily).

You purchased a car using some cash and borrowing 516,000 (the present value) for 45 months at 7% per year, Caloulate the monthly payment (anhuily). Then astume you have made ten payments. What is the balance (present value) of your loan? The monthly poyment at the specified loan rate over the given penod is 1 (Round to the newrest cent.)

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