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When you purchased your car, you took out a five - year annual - payment loan with an interest rate of 5 . 7 %
When you purchased your car, you took out a fiveyear annualpayment loan with an interest rate of per year. The annual payment on the car is $ You have just made a payment and have now ecided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios?
a You have owned the car for one year so there are four years left on the loan
b You have owned the car for four years so there is one year left on the loan
a You have owned the car for one year so there are four years left on the loan
The payoff if you have owned the car for one year so there are four years left on the loan is $ Round to the nearest cent.
b You have owned the car for four years so there is one year left on the loan
The payoff if you have owned the car for four years so there is one year left on the loan is $ Round to the nearest cent.
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