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Suppose that you borrow ?$17,000 for five years at 8?% toward the purchase of a car. Find the monthly payments and the total interest for
Suppose that you borrow ?$17,000 for five years at 8?% toward the purchase of a car. Find the monthly payments and the total interest for the amortized loan.
The monthly payment is ?$ . ?
(Do not round until the final answer. Then round to the nearest cent as? needed.)
The total interest for the loan is ?$ . ?
(Use the answer from part a to find this answer. Round to the nearest cent as? needed.)
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