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Jane needs to take out a personal property loan to buy a boat that she will pay back over 4 years. The boat costs $

Jane needs to take out a personal property loan to buy a boat that she will pay back over 4
years. The boat costs $12,500, and Jane will pay 9% interest if she has good credit and
17% interest if she has poor credit.
Part A: Determine Jane's monthly payment if she has good credit. Show your work.
Part B: Determine Jane's monthly payment if she has poor credit. Show your work.
Part C: How much interest will Jane pay over the life of the loan if she has good credit?
Show your work.
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