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13 show all work You are considering buying an antique car priced today at $20,000. The bank has offered you a loan to buy it.

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You are considering buying an antique car priced today at $20,000. The bank has offered you a loan to buy it. The loan is a 4-year loan for which you will make quarterly payments (at the end of each quarter/end of each 3-months). The APR for the loan is 24%. How much is the quarterly payment? Click here to access the TVM simulated excel file that you can use to get TMV factors

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