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Monty Ricker obtained a used car loan of $6,000.00 at 8% for 36 months. The monthly payment is $187.80. The balance of the loan after 12 payments is $4,159.90. The balance after the 34th payment is $380.60.
A) what is the interest for the first payment?
B) what is the interest for the 13th payment
C)explain why the interest is so much different for the two payments
D)what is the balance after the 35th payment

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Answer:

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