Question: 32) 32) Solve the problem. A couple purchasing a car can spend $360 per month for their loan payment. If they have $5,500 available for

32) 32) Solve the problem. A couple purchasing a car can

32) 32) Solve the problem. A couple purchasing a car can spend $360 per month for their loan payment. If they have $5,500 available for a down payment and are considering a 5-year loan, how much can they spend on the car at each of the following rates? a) 6.2% compounded monthly b) 5.1% compounded monthly

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