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QUESTION
A commercial bank will loan you $45,291 for 6 years to buy a car. The loan must be repaid in monthly payments at the end of the month.
need help entering this in to excel. A commercial bank will loan you $45,291 for 6 years to buy a car. The loan must be repaid in monthly payments at the end of the month. The annual interest rate on the loan is 6.19 percent of the unpaid balance. What is the amount of the monthly payments?
