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Aiter careful comparison shopping, Noah Gniffin decides to buy a new Toyota Camry. With some options added, the car has a price of $29,536. including
Aiter careful comparison shopping, Noah Gniffin decides to buy a new Toyota Camry. With some options added, the car has a price of $29,536. including plates anc taxes. Because he can't afford to pay cash for the car, he will use some savings and his old car as a trade-in to put down $6,536. Noah plans to finance the rest with 3$23,000,60-month loan at a simple interest rate of 4 percent, a. What will his monthly payments be? Round the answer to the nearest cent. 4 per month b. How much total interest will Nosh poy in the first year of the foan? Round the answer to the nearest cent. (the a monthly payment analysis procedure similar to the one in F.xhibit 7.7.) c. How much interest will Nosh poy over the full (60-month) life of the loanz Round the answer to the nearest cent. 5 d. What is tive APR on this loan? Round the answer to 2 decimal places
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