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## 1. You want to purchase a car that costs $25,000. You must pay a 10% down payment. How much is this? Answer: 2,500 2.

Question

1. You want to purchase a car that costs $25,000. You must pay a 10% down payment. How much is this?

Answer: 2,500

2. What do you still owe?

Answer: 22,500

3. Determine the monthly payment for 60 months with an APR of 5.5%. Round to the nearest cent.

Answer: 22,500(0.055/12)/(1-(1+0.055/12)^(-60)= 429.78 rounded to the nearest cent.

4. How much do you pay all together at the end of the 60 months including the down payment and interest charges?

I need help with number 4. Please.

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Mathematics
3 years
2021-08-01T02:23:14+00:00
2021-08-01T02:23:14+00:00 1 Answers
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## Answers ( )

Answer: If interest is not given, it would be 25,000+ interest as your answerStep-by-step explanation: