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You want to buy a new sports coupe for $78,500, and the finance office at the dealership has quoted you a loan with an AR

You want to buy a new sports coupe for $78,500, and the finance office at the dealership has quoted you a loan with an AR of 4.9 percent for 60 months to buy the car. What will your monthly payments be? What is the effective rate on this loan?

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