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The annual interest rate on the loan is 393 of the unpaid

A commerical bank will loan you %55105 for 4 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 3.93% of the unpaid balance. What is the amount of the monthly payments?

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Finance Basics: The annual interest rate on the loan is 393 of the unpaid

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