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You want to buy the BMW 5 5 0 . The price is $ 1 3 2 0 0 0 ( including dealer charges )

You want to buy the BMW550. The price is $132000(including dealer charges). BMW financial services
offers a loan (called purchase financing) with a 60 month term and an annual rate of 3%(APR). How much
are the monthly payments? (Remember, the principal of the loan includes tax: 1320001.13.) Round your
answer to the nearest cent.
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