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You want to buy a car that will cost $45,000.A finance company can you lend you the money over 4 years at 18% compounded monthly.

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You want to buy a car that will cost $45,000.A finance company can you lend you the money over 4 years at 18% compounded monthly. To reduce the amount of the loan repayments it has been suggested that you make a lump sum payment of $15,000 at the end of the loan. This amount is the estimated "trade in" value of the car at that time.What amount will the 47 monthly repayments on this loan be

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