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(b) Evaluate the proposal that you borrow rather than pay cash using present value calculations. Do this by calculating the present value of your

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(b) Evaluate the proposal that you borrow rather than pay cash using present value calculations. Do this by calculating the present value of your car payments if you pay cash and the present value of your car payments if you take out the car loan (think carefully about which interest rate to use in your present value calculations).

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