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You have decided to buy a used car. The dealer has offered you two options: (FV of $1, PV of $1, FVA of $1, and

You have decided to buy a used car. The dealer has offered you two options: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)

a. Pay $320 per month for 9 months and an additional $9,000 at the end of 9 months. The dealer is charging 36 percent per annum.

b. When you buy the car, pay cash equal to the present value of the payments in option (a).

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