Total amount spent on vehicle under each assumption

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Reference no: EM131457753

Use your financial calculator to compute the monthly payments for a vehicle that coststs $15,000 if you finance the entire prchase over 4 years at an annual interest rate of 6 percent. Also calculate the loan payments assuming the rates of 5 percent and 7 percent. Compare the total amount spent on the vehicle under each assumption.

Reference no: EM131457753

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