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Problem 5-53 Loan Balance (LG5-9) Rachel purchased a car for $24,500 three years ago using a 4-year loan with an interest rate of 90 percent.

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Problem 5-53 Loan Balance (LG5-9) Rachel purchased a car for $24,500 three years ago using a 4-year loan with an interest rate of 90 percent. She has decided that she would sell the car now, if she could get a price that would pay off the balance of her loan What is the minimum price Rachel would need to recelve for her car? Calcu the remaining time left to compute the present value (called balance) of the remaining loan. (Do not round intermediate calculations and round your final answer to 2 decimal places) late her monthly payments, then use those payments and bok Minimum price

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