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10. $ You want to buy a $25,000 car today, but you don't have the cash to buy it. The dealership is offering to loan
10. $ You want to buy a $25,000 car today, but you don't have the cash to buy it. The dealership is offering to loan you the money at 6% interest with payments made monthly for the next six years. If you choose to buy the car, what is your monthly car payment (round to nearest dollar)? 11. You want to start saving now so you have cash to buy a $25,000 car in four years. You can earn 6% interest on your monthly payments. How much must you save each month to achieve your $25,000 goal in 4 years (round to nearest dollar)? 12. $ You decide to save $300 every month for the next four years so you can start a small business. You are investing the money and can earn 12%. How much will you have saved by the end of the four years (round to nearest dollar)?
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