If you borrow $5,000 to buy a car at 6% compounded monthly, to be repaid over the

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If you borrow $5,000 to buy a car at 6% compounded monthly, to be repaid over the next five years, what is your monthly payment?
(a) $81.7
(b) $96.5
(c) $112
(d) $89
(e) $104

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Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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Question Posted: May 17, 2016 05:49 AM

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