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Mathematics, 10.10.2021 04:30 izzybella18ozgsrg

Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. Assume that you take out a $3000 loan for 30 months at 9% APR. How much of the first month's payment is interest? (Round your answer to the nearest cent.)

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