How would the payment differ if you paid interest only

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Reference no: EM131525477

You wish to buy a $9,800 dining room set. The furniture store offers you a 3-year loan with an 11 percent APR.

What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM131525477

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