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Someone is selling you a used car. The purchase price is $25,000, and he is providing financing at a 4% annual rate. He is not
Someone is selling you a used car. The purchase price is $25,000, and he is providing financing at a 4% annual rate. He is not requiring the first monthly payment until one year from today. After the first payment, you will make 24 more monthly payments of that same amount. If you have $3,000 to pay today as a down payment, what will your monthly payment be?
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