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You just took out a 4-year car loan for $15,000 at an annual interest rate of 6.5%. This is a fully amortized loan. According to
You just took out a 4-year car loan for $15,000 at an annual interest rate of 6.5%. This is a fully amortized loan. According to the terms of the loan you have to make 48 equal monthly payments. Type how you solved each of the following questions along with your answer. A. How much do you expect to pay each month? B. How much of the first payment is interest and how much is loan repayment? C. How much total interest will you have paid over the life of the loan? Blank # 1 Blank # 2 Blank # 3 A
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