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Kevin Lin wants to buy a used car that cests $9,780. A 10% down payment is required. (a) The used car dealer offered him a
Kevin Lin wants to buy a used car that cests $9,780. A 10% down payment is required. (a) The used car dealer offered him a four-year add-on interest loan at 7 th annuat interest. Find the monthiy papment. (Round your answer to the nearest cent.) 5 (b) Find the APR of the onaler's loan. pound to the nearest hundrecth of 1%. (e) His bank offered him a four-year simple inferest amortited ioan at 9.2 s interest, with no fees. Find the APR, nithout making any calculations. (d) Which hoan is better for him? Use the solutions to parts (b) and (c) to answer, Wo calculations are required. The bank's loan is better. The car dealer's han is better
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