Furniture to Go is offering new customers an opportunity to defer their furniture purchase payments for 3
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Question:
- Draw the cash flow diagram from your perspective.
- How much are your monthly payments?
- How much interest will you pay over the life of your loan? (you make all scheduled payments)
- You decide to pay off your car loan when you make your 24th payment. What will be the payoff for the loan?
- How much interest did you save by paying the loan off in 24 months versus keeping the loan for the original term?
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