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On day one, ABC purchased a used car from a local car dealer. ABC agreed on a price of $ 9 , 0 0 0

On day one, ABC purchased a used car from a local car dealer. ABC agreed on a price of $

9, 000 .

It paid half of the price immediately and it borrowed the other half from the dealer. The loan requires ABC to make monthly payments over three years. Which of the following is correct?

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