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Sharon is considering the purchase of a car. After making the down payment, she will finance $ 1 9 3 0 0 Sharon is offered
Sharon is considering the purchase of a car. After making the down payment, she will finance $ Sharon is offered three maturities. On a fouryear loan, Sharon will pay $ per month. On a fiveyear loan, Sharon's monthly payments will be $ On a sixyear loan, they will be $ Sharon rejects the fouryear loan, as it is not within her budget. How much interest will Sharon pay over the life of the loan on the fiveyear loan? How much interest will Sharon pay over the life of the loan on the sixyear loan? Which should she choose if she bases her decision solely on total interest paid?
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