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Find what is the size of monthly payment

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Problem 1: You want to buy a motorcycle for ?$14,500 plus freight of ?$185 and other delivery charges of ?$175. You have already saved 35?% of the total purchase price? (including all? charges) towards a down payment. The bank is willing to finance the remaining balance at 7.57?% compounded quarterly. What is the size of your monthly payment if the loan is for 5.25 years.

Reference no: EM132954527

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