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You want to buy a motorcycle, and a local bank will lend you $30,000. The loan would be fully amortized over 4 years, and the

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You want to buy a motorcycle, and a local bank will lend you $30,000. The loan would be fully amortized over 4 years, and the nominal interest rate would be 12%, with interest paid monthly. What is the monthly loan payment? You want to buy a motorcycle, and a local bank will lend you $30,000. The loan would be fully amortized over 4 years, and the nominal interest rate would be 12%, with interest paid monthly. What is the monthly loan payment

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