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You want to buy a new car that costs $25,000. How much would your monthly payments be if you borrow the money for 5 years

  1. You want to buy a new car that costs $25,000. How much would your monthly payments be if you borrow the money for 5 years from a credit union at 4% annually (remember you make monthly payments so you have to get the term of the loan and the interest rate from annual periods to months)?

PV =

FV =

I =

N =

Pmt =

Answer: ________

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