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You want to buy a motorcycle for $ 1 2 , 5 0 0 plus freight of $ 1 5 5 and other delivery charges

You want to buy a motorcycle for $12,500 plus freight of $155 and other delivery charges of $225. You have already saved 25% of the total purchase price(including all charges) towards a down payment. The bank is willing to finance the remaining balance at 8.67% compounded quarterly. What is the size of your monthly payment if the loan is for 3.75 years.

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