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Lisa plans to buy a Nissan for $30,000 after graduating from college. She plans to place a down payment of $2,500 and borrow $27,500 from
Lisa plans to buy a Nissan for $30,000 after graduating from college. She plans to place a down payment of $2,500 and borrow $27,500 from the dealer using a four-year loan, at 5% APR. How much are Lisas monthly payments? What is the balance of the loan after she has made 12 monthly payments?
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