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You are looking to purchase a car and assume the interest rate is 4 . 2 5 % : a ) If the car costs
You are looking to purchase a car and assume the interest rate is :
a If the car costs $ how much are your monthly payments if you would like to pay off the car in years?
b In scenario a how much down payment would you need to reduce your monthly payments to $
c In scenario a would switching to biweekly payments increase or decrease the cost of borrowing?
Provide explanation andor show calculations to support.
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