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A friend is selling you a used car. The purchase price is $25,000, and she is providing financing at a friendly 5% annual rate. Because
A friend is selling you a used car. The purchase price is $25,000, and she is providing financing at a friendly 5% annual rate. Because you are currently making tuition payments, she is not requiring the first monthly payment until nine months from today. After the first payment, you will make 20 more monthly payments of that same amount. If you have $5,000 to pay today as a down payment, what will your monthly payment be
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