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Problem 5 - 2 3 Loan Payments ( LG 5 - 9 ) You wish to buy a $ 2 2 , 5 0 0

Problem 5-23 Loan Payments (LG5-9) You wish to buy a $22,500 car. The dealer offers you a 4-year loan with a 10.8 percent APR. What are the monthly payments? How would the payment differ if you paid interest only? Note: Do not round intermediate calculations and round your final answers to 2 decimal places. Monthly payment Interest only payment

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