6. If you receive a loan today of $12,500 for an automobile, how much will...
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6. If you receive a loan today of $12,500 for an automobile, how much will you have to pay at the end of each month if the term of the loan is 40 months and the annual interest rate is 12%? (first loan payment is due at the end of the first month). Interest is compounded monthly. What if the term of the loan is only 20 months
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