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You want to borrow money to help pay for a new car. You can afford to make payments of $700 per month. If the loan

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You want to borrow money to help pay for a new car. You can afford to make payments of $700 per month. If the loan is for 6 years at 6% interest, compounded monthly, how much can you borrow? Edit View Insert Format Tools Table 12ptParagraph & Toy Payment A=$700 Interest rate R-6% Monthly rate 0.600000% Laon amount I - 500 (1/0.006) (1-(1/(1+0.006)^60) -5009

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