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You want to buy a new sports coupe for $ 8 4 , 5 0 0 , and the finance office at the dealership has

You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 4.7 percent for a 60-month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?
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\table[[Cost of car,$84,500
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