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The price of a used car is $8,000. The dealer finance rate is 8.5% APR for four years with 10% down payment. The bank finance

The price of a used car is $8,000. The dealer finance rate is 8.5% APR for four years with 10% down payment. The bank finance rate is 7.8% for three years with 20% down payment. Calculate the monthly down payment for each loan.

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