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You want to buy a new Chevy Tahoe which costs $65,000. You can get a loan for 6 years at 4% interest with monthly paymenls.
You want to buy a new Chevy Tahoe which costs $65,000. You can get a loan for 6 years at 4% interest with monthly paymenls. Your loan is fully amortizing, so it will be complelely paid off in 6 years. Ifyou puta
downpayment of $5,000 and borrow the rest, compute the monthly payment on this car loan.
a. $938.71
b. $1,016.94
c. $78.22
d. $953.80
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