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Matthew Wants to Take Out a Loan to Buy a Car

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Matthew wants to take out a loan to buy a car. He calculates that he can make repayments of $4000 per year. If he can get a five-year loan with an interest rate of 7.5%, what is the maximum price he can pay for the car?


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The process of inputting new data or an item into a database table.

Long Data Type

A type of data storage format in programming that allows for the storage of integer numbers larger than those held by standard integer data types.

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A field in a database or form that allows users to enter or view remarks or explanations.

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An investment strategy used to reduce the risk of adverse price movements in an asset.

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