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After making a down payment of $7,500 for an automobile, Molly paid $400 per month for 60 months with interest charged at 5.2% per year
After making a down payment of $7,500 for an automobile, Molly paid $400 per month for 60 months with interest charged at 5.2% per year compounded monthly on the unpaid balance. How much did Molly finance to purchase the car (how big is her loan), the original cost of the car, and how much did she pay for the car?
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