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You have decided to purchase a new vehicle for $35,000. You plan to use a loan amortized over 4 years. The nominal interest rate (APR)

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You have decided to purchase a new vehicle for $35,000. You plan to use a loan amortized over 4 years. The nominal interest rate (APR) is 8% compounded monthly. 1. How much will the monthly car payments be? 2. What portion of the first payment goes towards paying the principal amount of the loan? 3. How much interest will you pay on the loan

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