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Liz found an error in the monthly payment her bank charged her for a four-year, $19,500 loan.
She took the loan out at an APR of 5%. Her bank was charging her $459.07 per month.
a. What is the correct monthly payment?
b. Liz noticed the error just before making the last payment. The bank told her that they would
credit all of the overpayments and adjust her last month's payment accordingly. What
should her last month's payment be after the adjustment? Explain.

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