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What is the size of your monthly payment

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Question - You want to buy a motorcycle for $12,500 plus freight of $185 and other delivery charges of $125. 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 7.95% compounded quarterly. What is the size of your monthly payment if the loan is for 3.25 years?

Reference no: EM133147419

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