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6. James is making payments of $275 per month for his car. The purchase price of the car was $15,000 and James paid a down

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6. James is making payments of $275 per month for his car. The purchase price of the car was $15,000 and James paid a down payment of $4000. How long will James take to repay the car loan if interest is 7.4% compounded semiannually? a) 3 years, 10 months b) 5 years, 6 months c) 3 years, 8 months d) 3 years, 0 months

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