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How much total interest will she pay with the dealer loan

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Sue Sherman wants to buy a new Ford Mustang, and has negotiated a price of $28,000. The dealer is offering a 5-year loan, paid monthly, at 7.9% APR interest with no money down.

a. How much TOTAL interest will she pay with the dealer loan?

b. If she takes the dealer loan, how much will she still owe after three years?

Reference no: EM132920596

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