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Zara would like to buy a new Pontiac Solstice that costs 32,000$. The dealership offers to finance the car at 2.4% compounded monthly for five

Zara would like to buy a new Pontiac Solstice that costs 32,000$. The dealership offers to finance the car at 2.4% compounded monthly for five years with monthly payments. What will be Zara's monthly payment if she buys the car?

Okay, so how would you solve this question and also in general, how do you identify whether a word problem is a compound or simple interest? Thanks

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