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Use the amortization table below to answer the following questions. The loan is for 5 years at 5 . 5 % interest on a $

Use the amortization table below to answer the following questions. The loan is for 5 years at 5.5% interest on a $30,000 car. Use the amortization table below to answer the following questions. The loan is for 5 years at 5.5% interest on
a $30,000 car.
a. How much are the yearly payments?
b. If you traded your car in at the end of the 3rd year (2013) and it was worth $15,500, how much would you
get to put towards the new car that you are buying after paying back the bank?
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