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You are planning to trade-in your old vehicle for $10,000 and use the proceeds as a down payment on a new car fully invoiced at
You are planning to trade-in your old vehicle for $10,000 and use the proceeds as a down payment on a new car fully invoiced at $40,000. You qualify for a 5-year (60-month) loan at 6%. What will be your monthly payment? Show your inputs/work for full or partial credit.
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