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You just purchased a 2013 Jetta for $30,000. You make a down payment followed by payments of $699 per month for 4 years. The interest
You just purchased a 2013 Jetta for $30,000. You make a down payment followed by payments of $699 per month for 4 years. The interest rate is 10%, compounded monthly. (a) How much was the down payment? (b) What is the cost of financing (interest paid)?
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