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Problem 1 You are going to buy a car. The asking price is $ 2 8 , 8 0 0 , you put $ 2

Problem

1

You are going to buy a car. The asking price is $

28, 800,

you put $

2, 200

down, and your trade

-

in is worth $

1, 700 .

The balance you finance with a

6 %

APR,

48 -

month loan. What are your monthly payments?

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