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Your answer: Question 20 (CHAPTER 6) You're shopping for a new car. One car that you really liked costs $28,000. You are planning to fully

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Your answer: Question 20 (CHAPTER 6) You're shopping for a new car. One car that you really liked costs $28,000. You are planning to fully finance this purchase. The loan contract requires fixed monthly payments for 4 years, at 5% annual rate. Calculate your required monthly payment on this car loan. (Do NOT use "$" in your answer. Round your answer to TWO decimal places, for example, 100.23)

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