The annual interest rate on the loan is 1152 percent of the
A commercial bank will loan you $20,000 for four years to buy a car. The loan must be repaid in 48 equal monthly payments. The annual interest rate on the loan is 11.52 percent of the unpaid balance. How large are the monthly payments?
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a commercial bank will loan you 20000 for four years to buy a car the loan must be repaid in 48 equal monthly payments
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