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Presto Pizza just purchased a new $18,810 Chevrolet Aveo (including all taxes) as a delivery vehicle. The loan rate is 5.4% compounded annually for a
Presto Pizza just purchased a new $18,810 Chevrolet Aveo (including all taxes) as a delivery vehicle. The loan rate is 5.4% compounded annually for a seven-year amortization. a. What is the amount of the final monthly payment? b. Calculate the principal and interest portions of the payments in the first two years. c. Calculate the principal and interest portions of the payments in the last two years. Only use Financial Calculator And functions
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