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Mathematics, 18.08.2020 22:01, miller3009
Now suppose Annabelle decides to buy a gently used car instead of a new car. She knows she can set aside $200 a month from her job to pay for the loan. The used car dealership she researched is offering an annual interest rate of 4.8%, compounded monthly. Car loans usually come in 3-year or 5-year terms. Calculate the loan amount she can take out using these values for a 5-year and a 3-year loan, assuming her monthly payment is $200.
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Now suppose Annabelle decides to buy a gently used car instead of a new car. She knows she can set a...
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