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The following table shows annual rates for various types of loans in 2 0 2 1 . Assume monthly payments and compounding periods. HINT [
The following table shows annual rates for various types of loans in Assume monthly payments and compounding periods. HINT See Examples and
Loan
Type Year
Mortgage Year
Mortgage New Car
Loan Used Car
Loan Credit
Cards
Rate
You purchased a new car using a year $ loan in With the same monthly payments, how much could you have financed had the interest rate been Do not round the payment amount to the nearest cent. Round the final amount you could have financed to the nearest cent.
$
With the same monthly payments, how much could you have financed had the interest rate been Do not round the payment amount to the nearest cent. Round the final amount you could have financed to the nearest cent.
$
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