Question: You are borrowing $ 1 1 , 0 0 0 to buy a car. Your interest rate is quoted as an APR of 6 .

You are borrowing $11,000 to buy a car.
Your interest rate is quoted as an APR of 6.61%, based on monthly
compounding.
The loan is for 6 years.
How much is each monthly loan payment?
To nearest $0.01
You are borrowing $11,000 to buy a car. Your interest rate

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