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As soon as she graduated with an engineering degree and started working, Jamie bought a car for $40,000. A down payment of $10,000 was paid by her dad as graduation gift. The rest of the amount was financed with Generous Motors at 3% nominal interest with 60 monthly payments, the first payment which is to start at the end of 13th month. Her monthly payment is equal to _____________.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91388420

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