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Forse Your dream is about to come true! You are about to buy your first classic sports car. To do so, you have arranged to bo
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Answer #1

Solution:

a) annual payment on your new car loan= $18758.45

b) Year 2 payment constitute interest on loan= $3008.49

c) year 3 payment constitute principal on loan=$16,694.95

d) Total interest=$10,033.79

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