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1. Suppose, alter you graduate from Algoma University, you find a job that pays you $l a year. Further, suppose That after you have your

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1. Suppose, alter you graduate from Algoma University, you find a job that pays you $l a year. Further, suppose That after you have your rst job, you would Like to buy your dream car -- Honda Odyssey -- that you 1were always longing for. Since you do not have enough sayings yet, you plan to take out an automobile loan oi $41250 for 34 months at an annual interest rate of 1.99 percent, with payments to be made monthly. What will your monthly payments he? If the interest rate inqeases from 139 percent to 3_5 percent, how much will your monthly payments increase? Instead of EM months, you decide to pay off your loan in ED months, what will your monthly payments he if the interest rate remains at 1.99 percent or increases to 3.5 percent? Develop a chart comparing these monthly payments. Show your work

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