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Erica wants to purchase a new car. She has saved $12,000 for a down payment for a new car. She knows that she can afford
Erica wants to purchase a new car. She has saved $12,000 for a down payment for a new car. She knows that she can afford to pay $16,500 per year and that her bank will charge her 4.75% interest on the car loan. She intends to pay off the car in 7 years. Interest will be compounded annually. Of the following, which is the most expensive vehicle in her price range that she could consider? Question 4 options: A BMW selling for $99,800 A Tesla selling for $95,600 A Mercedes-Benz selling for $110,600 A Maserati selling for $107,800
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