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Suppose you are looking to buy a car for $ 4 0 , 0 0 0 . You will pay for it by taking out

Suppose you are looking to buy a car for $

40, 000 .

You will pay for it by taking out a car loan at

1.5 %

interest and a

5 -

year term. The down payment is

10 % .

What are your monthly payments? Round to the nearest dollar.

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