How much are you borrowing to buy the car

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Reference no: EM132023273

You are taking out a car loan and will make payments of $398 each month (beginning one month from today), for a total of 60 monthly payments.

If the interest rate on the loan is 0.91% (the effective monthly rate on this loan), how much are you borrowing to buy the car?

Reference no: EM132023273

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