Tammy wants to buy a car that costs $10,000 and wishes to know the amount of the
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Question:
Tammy wants to buy a car that costs $10,000 and wishes to know the amount of the monthly payments, which will be made at the first of the month, with interest of 12% on the unpaid balance.
What table should she use?
a. Present value of $1,
b. Present value of an ordinary annuity,
c. present value of an annuity due, or
d. future value of an annuity due
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