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- Suppose you finance a $10,000 car over 60 months at an interest rate of 1% per month. 1. How much is your monthly car

- Suppose you finance a $10,000 car over 60 months at an interest rate of 1% per month. 1. How much is your monthly car payment? (Assume that the first payment is one month from now.) 2. How much is your monthly payment if you made a $1,000 downpayment? 3. What if the first payment is NOW

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