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Chapter 03, Problem 010 (Video Solution) In order to buy a car, you borrow $32,500 from a friend at 14%/year compounded monthly for 4 years. You plan to repay the loan with 48 equal monthly payments ▼ Part a Your answer is correct. 888.23per month How much are the monthly payments? Round entry to two decimal places. The tolerance is ±1. Click here to access the TVM Factor Table Calculator. LINK TO TEXT LINK TO VIDEO Attempts: 1 of 2 used Part b How much interest is in the 23rd payment? $ Round entry to two decimal places. The tolerance is ±10. Click here to access the TVM Factor Table Calculator LINK TO TEXT LINK TO VIDEO

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