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Find what would monthly payment be for a five year loan

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Reference no: EM132718057

Anna Conda purchased a new Toyota Tundra pickup truck for $45,000 and financed $41,000 with a 5 year, 3.5% loan. Following the format of the loan disclosure statement, answer the following question.

Problem A) What is the total of all of the loan payments made?

Problem B) What is the actual amount borrowed?

Problem C) What is total finance or interest cost associated with the loan?

Problem D) In this example, the dealer is offering 0% interest. What would the monthly payment be for a 5 year loan?

Reference no: EM132718057

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