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You are borrowing money to buy a car. If you can make payments of $270 per month starting one month from now at an interest

You are borrowing money to buy a car. If you can make payments of

$270

per month starting one month from now at an interest rate of

6%,

how much will you be able to borrow for the car today if you finance the amount over

5

years?

A.

$16,759

B.

$13,966

C.

$19,552

D.

$8,380

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Financial Accounting Tools for Business Decision Making

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