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Problem 4 You see a car that you absolutely must have. The price tag says $28,450, but you want to keep your payment low over
Problem 4 You see a car that you absolutely must have. The price tag says $28,450, but you want to keep your payment low over a 4-year period. Since you want to make payments no larger than $440 at the end of every month, you must find a bank to finance a loan for you. The bank you find charges interest at a rate of 6.99% compounded monthly. Use this information to find the following: - The amount you need to borrow from the bank. - The down payment you need to make
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