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You want to buy a $26,000 car. The dealer offers you a 7-year loan with an 8 percent APR and no down payment required. Assuming
You want to buy a $26,000 car. The dealer offers you a 7-year loan with an 8 percent APR and no down payment required. Assuming monthly compounding, what will the monthly payments be?
$2,083.24
$309.52
$231.91
$405.24
Not possible to compute with the data provided
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