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You want to buy a new car. You can afford payments of $425 per month and can borrow the money at an interest rate of

You want to buy a new car. You can afford payments of $425 per month and can borrow the money at an interest rate of 3.9% compounded monthly for 5 years. You should show your work for this question. How much are you able to borrow? How much interest do you pay? $

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