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August 5, 2015

Homework Help: accounting

Posted by happy on Tuesday, April 19, 2011 at 2:36pm.

If you decide to buy a car for $17,500 and get $2,500 on a trade-in. If the bank finances the remainder at 7.8%, and you want to pay off the loan in 5 years, how much will your monthly payments be? (Assume that interest is compounded monthly.)

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