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2. a) Determine the present value of monthly car payments of $590 at 6.9% per year, compounded monthly for two years. [K: 2] b) Determine

2. a) Determine the present value of monthly car payments of $590 at 6.9% per year, compounded monthly for two years. [K: 2] b) Determine the interest paid on the loan. [KI (1)

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