Rest of the amount was financed

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As soon as she graduated with an engineering degree and started working, Jamie bought a car for $40,000. A down payment of $10,000 was paid by her dad as graduation gift. The rest of the amount was financed with Generous Motors at 3% nominal interest with 60 monthly payments, the first payment which is to start at the end of 13th month. Her monthly payment is equal to _____________.

Reference no: EM13818503

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Rest of the amount was financed : As soon as she graduated with an engineering degree and started working, Jamie bought a car for $40,000. A down payment of $10,000 was paid by her dad as graduation gift. The rest of the amount was financed with Generous Motors at 3% nominal interest..

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