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Posted on Jul 30, 2024

( Present value of an annuity ) You wish to borrow $ 1 8 , 0 0 0 to buy a new automobile. The rate

(

Present value of an annuity

)

You wish to borrow $

18, 000

to buy a new automobile. The rate is

8.6 %

over four years with monthly payments. Find the monthly payment.

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