Cozmo Costanza just took out a $24,000 bank loan to help purchase his dream car.The bank offered a 5-year loan at a 6% APR.The loan will feature monthly payments and monthly compounding of interest.What is the monthly payment for this car loan?
A) $400.00
B) $463.99
C) $470.25
D) $474.79
Correct Answer:
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