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You want to buy a $24,000 car. The dealer offers you a 3-year loan with an 6 percent APR and no down payment required. Assuming

You want to buy a $24,000 car. The dealer offers you a 3-year loan with an 6 percent APR and no down payment required. Assuming monthly compounding, what will the monthly payments be?

$1,641.48

$666.67

$730.13

$610.13

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