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Jack Fitzgerald wishes to purchase a used car that has a cash price of $ 1 2 , 0 0 0 . The installment terms

Jack Fitzgerald wishes to purchase a used car that has a cash price of $12,000. The installment terms include a down payment of $3,000 and 48 monthly payments of $220. a) What finance charge will Jack pay? b) What is the APR to the nearest half percent?

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