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You buy an eight - year - old car for $ 1 0 , 0 0 0 . You decide to pay $ 2 0

You buy an eight-year-old car for $10,000. You decide to pay $2000 down, and the used car dealer gives you a special rate of 8% for 36 months. What is your monthly payment? How much of your first payment goes to interest? How much interest do you pay for the entire loan? What is your final payment on this car?

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