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April 25, 2014

Homework Help: Finite!!!

Posted by Kristen Morris:) on Tuesday, December 13, 2011 at 9:13pm.

John Buys a used car costing $6000. He agrees to make payments at the end of each monthly period for four years. He pays 12% interest compounded monthly. What is the amount of each payment? Find the total amount of interest John pays on the loan.

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