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Homework No. 1. The price of the ear is $16,000. Down payment is $6,000. Interest rate 10%. Payback period is 6 years. Determine the yearly

Homework No. 1. The price of the ear is $16,000. Down payment is $6,000. Interest rate 10%. Payback period is 6 years. Determine the yearly installments if Case 1. The earmaker does not pay to the bank. Case 2. The carmaker pays $2000 to the bank

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