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You want to buy a car, and a local bank will lend you $ 2 5 , 0 0 0 . The loan will be
You want to buy a car, and a local bank will lend you $ The loan will be fully amortized over years and the nominal interest rate will be Part A: What will be the annual loan payment? Part B: What will be the remaining prinicipal balance at the end of the th year? Part C: What will be the interest rate payment for the th year? Please show all steps for full transparency
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