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The buyer of a new car makes a down payment of 20% on the price of the car and finances the balance by making equal
The buyer of a new car makes a down payment of 20% on the price of the car and finances the balance by making equal payments of R6 658,88 at the end of each month for the next four years. The interest rate of the loan is 13,5% per year, compounded monthly. The price of the new car is A. R61 482,50. O B. R245 930,00 c. R420 747,13 D. R307 412,50
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