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You want to buy a Tesla Model 3 priced at $55,000. Financing is offered at 4% per annum compounded bi-weekly over 5 years (i.e 26
You want to buy a Tesla Model 3 priced at $55,000. Financing is offered at 4% per annum compounded bi-weekly over 5 years (i.e 26 two-week periods per year). What would your amortized bi-weekly payment be if you bought this car? How much interest would you pay in total over the 5 year financing?
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