1:You are buying a car today and will pay back $393.53 per month for 48 months. You...

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1:You are buying a car today and will pay back $393.53 per month for 48 months. You make your first payment today. If the rate is 3.6%, how much did you borrow?

2:You will invest $200 per year. You will make your first deposit today. If the rate is 7.94%, calculate how much will you have in 10 years?

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Mar 27, 2023 05:40 AM

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1:You are buying a car today and will pay back $393.53 per month for 48 months. You...

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1To calculate how much you borrowed you can use the present value formula for an annuity PV PMT 1 1 ... View the full answer

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