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Louise Bourgeois obtained a $3,200 installment loan for a marble floor in her foyer. The

annual percentage rate is 9%. She must repay the loan in 24 months. Find the (a) monthly
payment using the formula, (b) total amount repaid, and (c) the finance charge.

1 Answer

4 votes
(a) 157.33 (b)3776.00 (c) 576.00

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