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31 May, 10:25

Follow the steps above and find c, the total of the payments, and the monthly payment. Choose the right answers. Jane Smart buys a new SUV. The price, including tax, is $22,500.00. She finances the vehicle over 60 months after making a $2,000 down payment. The true annual interest rate is 12%. What are Jane's monthly payments (principal plus interest) ?

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  1. 31 May, 10:40
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    To the nearest penny c

    (0.12*20,500*61) : (2*12)

    =6,252.5

    Total of payments

    20,500+6,252.5

    =26,752.5

    Monthly payments

    26,752.5:60

    =445.875
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