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Question 4 (20 marks) a) A car dealer in Jakarta offers a car for sale by immediate down payment of IDR 200,000 and thereafter monthly

Question 4 (20 marks)

a) A car dealer in Jakarta offers a car for sale by immediate down payment of IDR 200,000 and thereafter monthly installments of IDR 16,200 for 5 years. If the interest rate is 10.5% compounded monthly, what is the current price of the car? (10 marks)

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