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Eric's newly-wedded wife does not like his motorcycle. To keep her happy, Eric decided to...

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Finance

Eric's newly-wedded wife does not like his motorcycle. To keep her happy, Eric decided to sell his motorcycle and buy a new Saburu for 30,000. The dealer agreed to take in the motorcycle for $7000 and finance the remaining cost at 1.05% for 5 years. How much does Eric have to pay annually for his car loan?

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