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You have a choice of financing this car at 5% APR for 48 months or 6% APR for 60 months. Amount Borrowed -20000 interest APR

You have a choice of financing this car at 5% APR for 48 months or 6% APR for 60 months.

Amount Borrowed -20000

interest APR 6%

Payments 60

Amount Borrowed -20000

interest APR 5%

Payments 48

How much additional finance charge will you pay if you extend your loan from 48 to 60 months?

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