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You're shopping for a new car at Honest Hal's Car Dealership. You choose a new car and realize that you will need to borrow $25,000
You're shopping for a new car at Honest Hal's Car Dealership. You choose a new car and realize that you will need to borrow $25,000 to purchase the car, that is after trade in, down payment and tax and tags are taken into consideration. Hal provides you a loan plan (a three-year, a five-year, and a seven-year loan plan) at an interest rate of 7% (based on your credit score). The loan plan breakdown is: a three- year loan (monthly payments $772 with a total repayment of $27,789); on table format
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