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Tony bought a car for $80,000 2 years ago. He obtained a $60,000 car loan with a 7-year term and a flat interest rate of

Tony bought a car for $80,000 2 years ago. He obtained a $60,000 car loan with a 7-year term and a flat interest rate of 2% to pay for the car. question: determine the effective interest of the abo...

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