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4. Natalie wants to purchase a new car that costs $28 000. She wants to pay the car off in 5 years. The dealership gives

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4. Natalie wants to purchase a new car that costs $28 000. She wants to pay the car off in 5 years. The dealership gives her two options. She can either: Option 1: get $4500 off the price of the car with a bank loan for the remainder at an interest rate of 9% per year, compounded monthly; or Option 2: get no money off the price of the car with a loan from the car company at an interest rate of 2% per year compounded monthly Determine: a) the monthly payment for each option. (6 marks) b) the difference in the monthly payment between the two options. (2 marks)

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