What is the approximate amount of the monthly payment

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Reference no: EM132030233

Today you borrowed $30,000 at 10% APR compounded daily, in order to buy a car. You will repay the loan over the next 60 months (60 monthly payments, each of the same amount).

The first payment is due in one month. What is the approximate amount of the monthly payment?

Reference no: EM132030233

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