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You would like to buy a new car and will need to borrow $20,000 to do so. Your loan will be repaid monthly over 5

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You would like to buy a new car and will need to borrow $20,000 to do so. Your loan will be repaid monthly over 5 years at a 2% annual interest rate. Calculate your monthly payment. N (period of time) I (Interest) PV (Present Value FV (Future Value) PMT (Annuity) Prepare the loan amortization schedule. Monthly Period Payment Interest Principal Payment Principal Balance Expense

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