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You wish to buy a $10,500 dining room set. The furniture store offers you a 2-year...

You wish to buy a $10,500 dining room set. The furniture store offers you a 2-year loan with an APR of 10.8 percent. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

How would the payment differ if you paid interest only?

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