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Q 16 You want to buy a $24,000 car. The dealer offers you a 4-year loan with an 7 percent APR and no down payment

Q 16

"You want to buy a $24,000 car. The dealer offers you a 4-year loan with an 7 percent APR and no down payment required. Assuming monthly compounding, what will the monthly payments be?"

"$1,747.94 "

$500.00

$574.71

$434.71

Not possible to compute with the data provided

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