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Rupesh wants to buy a new BMW priced at $54,000. He makes a down payment of 20% of the original price. He also trades-in his old car for $10,000. (This means he sells the old car to the dealer for $10,000). For the balance, Rupesh takes a 60-month car loan at an interest rate of 3.45%. What will be the approximate payment at the end of every month
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