Question: Question 14 (1 point) Use the following information to answer 14 and 15. You borrow $25,000 from the bank to buy a car. Under the

Question 14 (1 point) Use the following information to answer 14

Question 14 (1 point) Use the following information to answer 14 and 15. You borrow $25,000 from the bank to buy a car. Under the terms of the loan, it will be fully amortized over 3 years, and the nominal rate of interest will be 4.8 percent, with interest paid menthly. What would be the monthly payment on the loan? $629.11 $1,993.74 $747.03 $1,000.12

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