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Take-Home Problem #5 (8.3) Mod3 - CAR LOAN, su23 online Justify all answers. Show all of your work in a clear organized manner. Review the
Take-Home Problem #5 (8.3) Mod3 - CAR LOAN, su23 online Justify all answers. Show all of your work in a clear organized manner. Review the Directions for Take-Home Problems before you submit your solution to make sure you addressed all required aspects. Remember, this is about expression of a logical thought process with correct mathematical notation, so that anyone (even someone who does not know how to do this problem) could follow it, understand why it works this way, and learn from it. You might want to have someone else read it after you are done to make sure that your process is clear. Give any formula used in general form (unpopulated) first. Define all variables in the formula. Then give the formula populated. Please give each answer in a sentence in the context of the problem with units. 1. Quick and Easy Car Lot lent you $15,000, as an add-on loan, to buy one of their cars. The loan was for 5 years and 9% annual simple interest. I a. How much will you pay monthly for your car? 1
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