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Suppose that you decide to buy a car for $25,635, including taxes and license fees. You saved $7000 for a down payment and can get
Suppose that you decide to buy a car for $25,635, including taxes and license fees. You saved $7000 for a down payment and can get a four-year car loan at 5.64%. Use PMT =[1(1+nr)nt]P(nr) to find the monthly payment and the total interest for the loan. The monthly payment is $ (Round to the nearest cent as needed.) The total interest for the loan is $ (Round to the nearest cent as needed.)
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