Question: Nonannual compounding using a calculator ) Walter is thinking about trading cars. He estimates he will still have to borrow $22,000 to pay for his

Nonannual compounding using a calculator)

Walter is thinking about trading cars. He estimates he will still have to borrow $22,000

to pay for his new car. How large will Walter's monthly car loan payment be if he can get a 5-year

(60equal monthly payments) car loan from the university's credit union at an APR of 5.5 percent compounded monthly?

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