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You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal interest rate that the bank

You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal interest rate that the bank charges is 7.2%. If you start making equal end-of-month payments then what will be your approximate monthly installment?

Group of answer choices

$154.31

$170.43

$171.45

$160.31

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