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You want to buy a car, and a local bank will lend you $ 3 0 , 0 0 0 . The loan would be

You want to buy a car, and a local bank will lend you $30,000. The loan would be fully amortized over 6 years (72 months), and the nominal interest rate would be 12%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent.

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