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6. (10 points) You want to buy a car, and a local bank will lend you $30,000. The loan will be fully amortized over 5

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6. (10 points) You want to buy a car, and a local bank will lend you $30,000. The loan will be fully amortized over 5 years and the nominal interest rate will be 7.85%. What will be the annual loan payment (fixed payment - annuity amount)? Steps (9 points)

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