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A bank will loan you $9,500 for three years to buy a car. The loan...

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Accounting

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A bank will loan you $9,500 for three years to buy a car. The loan must be repaid in 36 equal monthly payments. The annual interest rate on the loan is 12% of the unpaid balance. What is the amount of the monthly payments? Optional Excel sheet for drafting your work Select one: $369.82 b. $395.93 @ c. $353.05 d. $315.54

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