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You decided to buy a new car and the dealer's best price is $60,000. The dealer agrees to provide financing with a five-year loan

You decided to buy a new car and the dealer's best price is $60,000. The dealer agrees to provide financing with a five-year loan at 5.3/4 percent. Payments are made monthly. What are your monthly payments? What is your total interest paid in 5 years? How much of the sixth payment is interest? Complete amortization table of your loan for the first 6 months.

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