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Your budget you can afford to service a loan with a maximum repayment of $400 per month over afive-year loan term. If interest rates are

Your budget you can afford to service a loan with a maximum repayment of $400 per month over afive-year loan term. If interest rates are 6% p.a. compounded monthly.



Can you afford to borrow $20,000 fora new car? Explain?

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