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4) You want to buy a car worth $25000.The down payment that you can make is $3000. The remaining $22000 is financed by the dealer

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4) You want to buy a car worth $25000.The down payment that you can make is $3000. The remaining $22000 is financed by the dealer such that you have to pay $547.47 per month for 48 months. Calculate the dealer's annual ROR on this car loan

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