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XYZ Construction Inc. wants to purchase a new pick-up truck. The price for the new truck is $40,475. The dealer allows XYZ to trade-in the

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XYZ Construction Inc. wants to purchase a new pick-up truck. The price for the new truck is $40,475. The dealer allows XYZ to trade-in the old truck for $5,669.XYZ can payback the remaining balance through a 4 -year payment plan. Given the agreed interest rate is 3% : How much is the monthly payment? Question 2 If XYZ can only pay $756 monthly, and the dealer does not accept trade-in, given 3% interest rate, how much of the new pick-up truck can XYZ afford

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