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Solve the Problem Using the Loan Payoff Table or an Amortization

question 60

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Solve the problem using the loan payoff table or an amortization table. Solve the problem using the loan payoff table or an amortization table.   -Marge and Tom Martin bought a new car for $26,500. They agreed to pay 20% down and make monthly payments for 4 years at 10% (compounded monthly) to pay off the rest. Find the amount of each monthly payment. A) $2,142.08 B) $684.06 C) $537.63 D) $672.11
-Marge and Tom Martin bought a new car for $26,500. They agreed to pay 20% down and make monthly payments for 4 years at 10% (compounded monthly) to pay off the rest. Find the amount of each monthly payment.


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