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Your bank offers you a 60-month, 3% APR car loan for a $56000 new Mercedes SLK300 Roadster.What will your monthly payment be? Find the monthly

Your bank offers you a 60-month, 3% APR car loan for a $56000 new Mercedes SLK300 Roadster.What will your monthly payment be?

Find the monthly interest rate, then solve for C in the formula for the present value of an annuity.

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