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A consumer purchased new furniture by borrowing $13195 using the store's credit plan which charges...

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Accounting

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A consumer purchased new furniture by borrowing $13195 using the store's credit plan which charges 9% compounded monthly. It the loan is to be repaid as a uniform series of monthly payments over 5 years, how much does the consumer still owe just after making the 20th payment? Select one: $6618 $2836 $4727 $10400 $9454

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