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You want to buy a new sports coupe for $43,750, and the finance office at the dealership has quoted you a 6.2 percent APR loan

You want to buy a new sports coupe for $43,750, and the finance office at the dealership has quoted you a 6.2 percent APR loan for 36 months to buy the car. Your monthly payment will be $and the effective annual rate on this loan ispercent.

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