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When you purchased your car, you look out a five-year annual payment loan with an interest rate of 6.3% per year. The annual payment on

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When you purchased your car, you look out a five-year annual payment loan with an interest rate of 6.3% per year. The annual payment on the car is 54,700 You have just made a payment and have now decided to pay off the loan by paying the outstanding balance. What is the payoff amount for the following scenarios? a. You have owned the car for one year (no there we four years left on the loan)? b. You have owned the car for four years (so there is one year loft on the loan) a. You have cwed the case for one year (so there are four years left on the loan)? The payoff you have owned the car for one year (so there are four years left on the loon) is 5 (Round to the nearest cent)

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