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Kyle is buying a car and will finance it with a loan that requires equal monthly payments of $265 for the next four years. His

Kyle is buying a car and will finance it with a loan that requires equal monthly payments of $265 for the next four years. His car payments can be described by which one of the following terms?

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Part 1

Annuity

Interest-only loan

Perpetuity

Lump sum

Discount loan

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