Auto Loans R Them loans you $24,000 for four years to buy a car. The l
Auto Loans R Them loans you $24,000 for four years to buy a car. The loan must be repaid in 48
equal monthly payments. The annual interest rate on the loan is 9 percent. What is the monthly
payment?
A) $543.79 B) $563.82 C) $597.24 D) $500.92
ANSWER
C
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