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What will be monthly payments for the car loan

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Question 1: You plan to take out a $10,000 car loan. It is a 5-year loan requiring monthly loan payments of equal amount. The interest rate on the loan is 4.5 percent. What will be your monthly payments for this car loan?

Option a. $186.43

Option b. $212.08

Option c. $166.67

Option d. $193.26

Option e. $204.17

Reference no: EM132483673

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