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Question

You just purchased a new car and had to borrow $25,000. According to the financing arrangement, you must repay the loan via 5 years of monthly payments at a nominal rate of 5.5%. How much are each of those monthly loan payments?

$234.85

$208.33

$240.49

$352.28

$477.53

Solution
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Finance 1 Day Ago 6 Views
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