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5. You get a car loan for $13,000 to buy a used car. The car dealer who gives you the loan charges

8.4% interest, compounded monthly, for 4 years.
(a) What's the total amount you will have to pay back for this loan?
(b) What is your monthly payment for this loan?

User Stan Hurks
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1 Answer

6 votes

Answer:

Total = $15,351.10

Monthly = $319.81

User Jos Theeuwen
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