What is the price that you are paying

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If a dealer offers you a car at $275 monthly payment for 5 years plus $5,000 down. If you can get a similar loan from a bank at APR of 12%, what is the price that you're paying?

Down payment

Monthly payment

Loan period

months APR

No. of compounding

times per year

Monthly rate

Present Value

Book formula

Excel function

Reference no: EM131508728

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