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I need hep finding a proper formula for this question. I need assistance. A commercial bank will loan out $39,999 for 3 years to buy a car.

I need hep finding a proper formula for this question. I need assistance.



A commercial bank will loan out $39,999 for 3 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 9.09 percent of the unpaid balance. What are the total monthly payments.

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