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You just purchased a $25,000 car today by taking out a five year loan. Calculate the monthly paymentAND respective EAR assuming: a. 5% interest (APR)?

You just purchased a $25,000 car today by taking out a five year loan. Calculate the monthly paymentAND respective EAR assuming:

a. 5% interest (APR)?

b. 8% interest (APR)?

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