Suppose you borrow $20,000 for a new car at a monthly interest rate of 0.75%. If you

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Suppose you borrow $20,000 for a new car at a monthly interest rate of 0.75%. If you make payments of $600/month, after how many months will the loan balance be zero? Estimate the answer by graphing the sequence of loan balances and then obtain an exact answer using infinite series.

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Calculus Early Transcendentals

ISBN: 978-0321947345

2nd edition

Authors: William L. Briggs, Lyle Cochran, Bernard Gillett

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