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Determine What is the amount of the monthly payment

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Question 1: A Hummer H3 sells for $96,000 tax included. GMAC lends money at the rate of 8.8% APR. If you buy the car and borrow through GMAC, then what are the monthly (end-of-month) payments for a 9-year term?

Question 2: What is the amount of the monthly payment?

Reference no: EM132603601

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