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Juan purchased a new automobile for $ 8 , 0 0 0 . Juan made a cash down payment of $ 2 , 0 0
Juan purchased a new automobile for $ Juan made a cash down payment of $ and agreed to pay the remaining balance in monthly installments, beginning one month from the date of purchase. Financing is available at a annual interest rate.
Required:
Calculate the amount of the required monthly payment.
Note: Use tables, Excel, or a financial calculator. Round your final answer to nearest whole dollar amount. FV of $ of $FVA of $ PVA of $ FVAD of $ and PVAD of $
Honthly payment
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