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You are planning to buy a car, and you have $5,000 saved for a down payment. The car dealer is offering 1.5% loans if you
You are planning to buy a car, and you have $5,000 saved for a down payment. The car dealer is offering 1.5% loans if you put down 20%.The term of the loan is four years.
- What is the most you can borrow?
- What will your monthly payment be if you borrow the maximum?
- How much principal will you still owe after 1 year?
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Microeconomics
Authors: Paul Krugman, Robin Wells
5th edition
1319098780, 1319098789, 978-1319098780
