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Finance the entire purchase price

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When Daysa graduates from college next week, he plans to buy a new car that costs $37,000. He will finance the entire purchase price with an automobile loan from his credit union. The loan, which requires monthly payments for six years, has a 5.1 percent interest rate. How much will Daysa owe on the loan after he makes payments for two years (i.e., after 24 payments)?

Reference no: EM133112522

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