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You want to buy a new sports car from Roy's Cars for $51,800. The contract is in the form of a 48-month annuity due at

You want to buy a new sports car from Roy's Cars for $51,800. The contract is in the form of a 48-month annuity due at an APR of7.8 percent, compounded monthly. What would be your monthly payment?

$1,25

1.60

$1,109.29

$1,245.70

$1,152.98

$1,084.32

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