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1) Travis is buying a car and will finance it with a loan that requires monthly payments of $265 for the next four years. His

1) Travis is buying a car and will finance it with a loan that requires monthly payments of $265 for the next four years. His car payments can be described by which one of the following terms?

a) Perpetuity

b) Annuity

c) Consol

d) Lump sum

e) Factor

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