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You have borrowed a loan of $20,000 from Chase to buy a car. You have promised Chase to make mortgage style payments in each year.

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You have borrowed a loan of $20,000 from Chase to buy a car. You have promised Chase to make mortgage style payments in each year. If you want to borrow this loan for 5 years and the interest rate is 0% (no interest) every year, what is the total payment in year one? Select one: a. $4,500.00 b. $4,000.00 c. $5,000.00 d. no enough information e. None of the above

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