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ou recently finished your MBA at VIU. Naturally, you must purchase a new Lexus LX immediately. The car costs about $51000. The bank quotes an

ou recently finished your MBA at VIU. Naturally, you must purchase a new Lexus LX immediately. The car costs about $51000. The bank quotes an interest rate of 12% APR for a 60 -month loan with a 10% down payment. You plan on trading the car in for a new one in 3 years. What will the loan balance be when you trade the car in?

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