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12 July, 12:21

You took any loan of $9,015.20 to buy a car. The loan is to be paid back in 48 equal monthly payments how much is each payment round your answer to the nearest cent

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  1. 12 July, 15:34
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    The equal monthly payment during 48 hours for buying a car is US$ 187.82

    Step-by-step explanation:

    Loan from the bank to buy a car = US$ 9.015.20

    Period of time to pay back the loan = 48 months

    Form of payment = Equal monthly payments

    Monthly payment = Loan from the bank / Period of time

    Monthly payment = 9,015.20 / 48

    Monthly payment = US$ 187.82 (rounding to the nearest cent)

    Each equal monthly payment during 48 months is US$ 187.82
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