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Yu-Feng Liang bought a used car for $7000. He made a down payment of $500 and paid off the balance in 48 monthly payments of

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Yu-Feng Liang bought a used car for $7000. He made a down payment of $500 and paid off the balance in 48 monthly payments of $188 each. (a) What was the finance charge? $ (b) What was the APR? (Use the True Annual Interest Rate (APR) table.) %

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