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What will your monthly payment be

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Reference no: EM132667004

Suppose you are getting a car loan. The car you want to buy costs $16,000. The rate is 5% with a period of 4, 5, or 6 years. You can afford a monthly payment of $275.

-How long will the loan be? (in years)

-What will your monthly payment be?

-How much interest will you pay?

Reference no: EM132667004

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