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When you purchased your car, you took out a 5 year, monthly payment loan with an APR of 5.2%. The monthly payment is $411. You
When you purchased your car, you took out a 5 year, monthly payment loan with an APR of 5.2%. The monthly payment is $411. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount if you've owned the car for 3.5 years? $6,722 $7,468 $7,102 $7,481
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