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You want to borrow $60,000 for a new tricked-out Hummer H2 for your high school basketball...

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Finance

You want to borrow $60,000 for a new tricked-out Hummer H2 foryour high school basketball star son.  If you can somehowqualify for an outrageously low interest rate of 4.5%, compoundedmonthly for a six-year (60 month) loan, what amount will yourmonthly payment be?

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YOU HAVE WRITTEN 6 YEAR 60    See Answer
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