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How much will her last payment be

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Question - Maggie plans to purchase a a car for $15,000. She will make a down payment of 20% and take a loan for the balance. If the bank rate will be 0.4% p.m.c.w. with annual payments over a 7-year period, how much will her last payment be if she also plans to make an extra payment of $500 annually?

Reference no: EM133165724

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