Question: This answer might be not correct. Pls show calulation You have decided to buy a car this year at a price of $16,000. You're planning

This answer might be not correct. Pls show calulation

You have decided to buy a car this year at a price of $16,000. You're planning to take out a loan for the full price ofthe vehicle at an interest rate of 5% per month. For the first two years (24 months), you will repay $500 per month. How much will you have to pay each month for the remainder ofthe threeyear loan (12 months) to pay off the car in full? $333.33 $457.75 $533.25 0 $443.21

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