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ts] A consumer needs to choose between two car loan options. Bank A o ers 4-year car loan at 2% interest if a 10% down
ts] A consumer needs to choose between two car loan options. Bank A o ers 4-year
car loan at 2% interest if a 10% down payment is made. Bank B o ers a 4-year car loan
at 1.7% interest if a 20% down payment is made. In both cases interest is compounded
monthly and payments are made each month for 4 years. If a car is purchased for $28,220 (including all taxes and fees), and the total amount paid (including the down payment) under each of the two financing options
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