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You decide to purchase a new car which has a price of $85000. If the salesperson tells you to make yearly payments for the next
You decide to purchase a new car which has a price of $85000. If the salesperson tells you to make yearly payments for the next 6 years, what is the total yearly payment that should be made if you want to pay off the entire $85,000 by the end of year 5, at an interest rate of 6% pa? Assume no inflation
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