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Tracy mine $8800 on a 6 year, 7% add-on interests loan. what will tracy monthly payments be? Sharon is considering the purchase of a car

Tracy mine $8800 on a 6 year, 7% add-on interests loan. what will tracy monthly payments be?

Sharon is considering the purchase of a car after making the down payment she will finance $13210 sharing is offered 3 maturities On a 4 year loan Sharon will pay $310.24 per month on a 5 year loan. sharon's monthly payments will be $255.39 on a 6 year loan they will be $218.93. Sharon rejects the four year loan as it is not within her budget

1. how much interest was Sharon pay over the life of the loan on the 5year loan 2. how much interest was Sharon pay over the life of the loan on the 6 year loan 3. which should she choose if she bases her decision solely on total interest paid?

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