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Assume that you purchased a new car today and financed $55,000 of the price on a 72-month payment contract with a nominal rate of 6.00%.

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Assume that you purchased a new car today and financed $55,000 of the price on a 72-month payment contract with a nominal rate of 6.00%. Further, assume that you plan on paying off the balance of the car loan after you make your 24th payment. How much will your loan balance be when you pay off the car

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