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2. In order to buy a new car, you finance a loan of $30,000 at an APR of 5% for a term of 6 years.
2. In order to buy a new car, you finance a loan of $30,000 at an APR of 5% for a term of 6 years. Your monthly payment comes out to $483.15. ( 20 points) a) What will be the total amount of interest paid? b) Suppose now you decide to change the term to 5 years instead, what will your new monthly payment and total interest paid be
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Governmental Accounting Auditing And Financial Reporting
Authors: Stephen J. Gauthier
1st Edition
0891252754, 978-0891252757
