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hi. can you please help me solve this question in detail step-by-step. thank you in advance! 5. Kelly is purchasing a car and and will
hi. can you please help me solve this question in detail step-by-step. thank you in advance!
5. Kelly is purchasing a car and and will take out a loan for $25,000. Give units in your answer and round to the nearest cent. (5.1) (6 points) How much will her monthly pay- ments be if she has a 3-year loan with an APR of 4% compounded monthly? Answer: (5.2) (6 points) How much will her monthly pay- ment be if she decides to take out a 4-year loan at 5%? Answer: (5.3) (8 points) Consider the total interest paid with cach loan. How much more total in- terest will Kelly pay with the 4-year loan at 5% than with 3-year loan at 4% Step by Step Solution
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