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Posted on Jul 28, 2024

You are borrowing money to buy a car. If you can make payments of $ 2 5 0 per month starting one month from now

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

250

per month starting one month from now at an annual percentage rate of

15 %,

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

5

years?

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