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14 (1 point) Matthew wants to take out a loan to buy a car. He calculates that he can make repayments of $4000 per year.

14 (1 point) Matthew wants to take out a loan to buy a car. He calculates that he can make repayments of $4000 per year. If he can get a five-year loan with an interest rate of 7.5%, what is the maximum price he can pay for the car? Calculating the present value of annuity using the Excel functions = PV (RATE,NPER,PMT,FV,0) What is NPER? Question 14 options: 5 years 1 year None of the above

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