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2) (5 points) You graduate from college, get your degree and get a new, well-paying job. a) First thing, you get a new car. You

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2) (5 points) You graduate from college, get your degree and get a new, well-paying job. a) First thing, you get a new car. You take a loan of $23960 with monthly payments of $360. Find a formula modeling the remaining loan balance in dollars, as a function of number of months passed since you got the car. (Monthly payments start from the next month, not immediately at the time that you get the car.) b) Right after, you set up a savings account and initially put $1400 in the account. You set it up, so that it automatically transfers a part of your earnings to the account. In 3 months, the balance in the accounts increased to $3140. i. How much money is transferred to your savings account each month? ii. Find a formula modeling the account balance as a function of number of months passed since you opened the account. c) When will you have enough money in your savings account to close off the car loan

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