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Luis Mahla purchases a Porsche Boxster for $47,900 and finances the entire amount at an annual interest rate of 5.2% for 4 years.

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Luis Mahla purchases a Porsche Boxster for $47,900 and finances the

entire amount at an annual interest rate of 5.2% for 4 years. Find the monthly payment. Assume the sales tax is 6% of the purchase price and the license fee is 1% of the purchase price. (Round your answer to the nearest cent.)

 
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