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Its time to buy a new car! This one is very straight forward. Go to your favorite car companys website and find the total price

Its time to buy a new car! This one is very straight forward. Go to your favorite car companys website and find the total price of a car of your choosing. Calculate the total price of the car after a $200 documentation fee and 6% sales tax. Once you have the total, calculate your monthly car payment and the total amount you would pay back for both loan options below. Decide which of these two loans you would choose. Support your decision with an explanation.

Loan 1 60-month loan at 4.9% financing

Loan 2 48-month loan at 0.9% financing

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