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you wish to purchase a second - hand car, valued at $ 1 0 0 0 0 . The purchase will be financed as follows.

you wish to purchase a second-hand car, valued at $10000. The purchase will be financed as follows.
The balance will be paid off over the next three years. repayments are due at the beginning of each month. The finance company quotes an interest rate of 12% p.a. compounded quarterly. Calculate the monthly repayment amount.

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