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You just paid $249,500 for a used Ferrari. You also agreed to pay an interest...

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Finance

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You just paid $249,500 for a used Ferrari. You also agreed to pay an interest rate of 6.75% which is compounded monthly. Loan needs to be paid in thirty years with exactly same payment every month. What's the amount of interest you paid in the first loan payment? A. $561.37 B. $1,37.16 O C. $1.403.44 OD. $1.487.71 E. $1.501.70

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