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You purchased a car using some cash and borrowing $9,000(the present value) for 41 months at 13% per year. Calculate the monthly payment (annuity). Then

You purchased a car using some cash and borrowing $9,000(the present value) for 41 months at 13% per year. Calculate the monthly payment (annuity). Then assume you have made ten payments. What is the balance (present value) of your loan?

The monthly payment at the specified loan rate over the given period is

$. .

(Round to the nearest cent.)

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