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15-02-2024
Business

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You are borrowing $12,000 to buy a car. The interest rate is quoted as 7.6% APR with monthly compounding. The loan is for 5 years. What is the amount of each monthly loan payment, rounded to the nearest $0.01? A) $235.89 B) $245.67 C) $255.43 D) $265.21

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