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Sam got a car financing where he needs to do 48 monthly payments of $5,448.75 each,...

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Advance Math

Sam got a car financing where he needs to do 48 monthly paymentsof $5,448.75 each, starting the moment he receives the vehicle.Given an annual interest rate of 18.4% compounded monthly:

(a) Calculate the spot price of the car.

(b) Elaborate the amortization schedule.

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notecomplete schedule ofamortization is    See Answer
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