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Viv intends to borrow $10,000 to purchase a car. He has been offered a rate...

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Accounting

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Viv intends to borrow $10,000 to purchase a car. He has been offered a rate of 9% and is trying to decide between a 36-month and 48-month payment plan. He knows that a 48-month plan offers a lower monthly payment. Tell him how much lower his monthly payment would be

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