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For Questions 16-17. You borrowed 20,000 from a local credit union to buy a car. You promised to pay this loan in 5 years. Suppose

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For Questions 16-17. You borrowed 20,000 from a local credit union to buy a car. You promised to pay this loan in 5 years. Suppose 3 years into your loan you have decided to sell the car for 10,000 . When you sell the car, you need to pay the remaining balance on your car. The APR on your loan is 6.75% compounded monthly. How much money you owe to bank? 58,814.94 $8,364,75 58,745,66 QUESTION 17 How much cash you will have after paying your bank loan, $1210 $1456 $1185 QUESTION 18 You can either lease your car for 5600 per month from your local dealer or pay $32.000 upfront. The interests rate your credit union offers is 3.40% compounded monthly and you will take 5 years to pay off dibt of lease? should you lease or buy? You should bix. You should leaso. Do nothing

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