Harry just bought a new Jeep Cherokee four-wheel drive for his lumber business. The price of the

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Harry just bought a new Jeep Cherokee four-wheel drive for his lumber business. The price of the vehicle was $35,000 of which he made a $5,000 down payment and took out an amortized loan for the rest. His local bank made the loan at 12% interest for four years. He is to pay back the principal and interest in four equal annual installments beginning one year from now. Determine the amount of Harry's annual payment. (Round to the nearest dollar) A) $9,878 B) $6,720 C) $9,709 D) $8,322

Posted Date: Jul 11, 2024 09:36 AM

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Harry just bought a new Jeep Cherokee four-wheel drive for his lumber business. The price of the

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