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Jason bought a car for $13,000. He made a down payment of 10% and financed the rest for 5 years at an annual interest rate
Jason bought a car for $13,000. He made a down payment of 10% and financed the rest for 5 years at an annual interest rate of 8.4%. 1. What is the financed amount? 2. What is the monthly payment? 3. He wants a $100 car payment, Using the same loan term, what priced motorcycle can Jason annually afford? Please show work. Thank you
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