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4. Assume you want to buy a new car for $40,000 and plan to finance it over 5 years by making 60 equal monthly payments.

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4. Assume you want to buy a new car for $40,000 and plan to finance it over 5 years by making 60 equal monthly payments. If the monthly interest rate is 0.75 percent (which means the APR on your auto loan will be 9%), what will be the monthly payment on your new $40,000 car (that is, find C)? Also, what is the finance charge (or total interest paid in dollars) on your 5 year car loan

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