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After Getting a Bonus, a Raise, and a Promotion to Senior

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After getting a bonus, a raise, and a promotion to senior account executive, Daisy Chu bought a new car. With her old car as a trade-in and her bonus as an additional down payment, Daisy needed to borrow $16,000. Her credit union amortized the loan over four years at 9%. Use Table 14-1 to determine the size of Daisy's monthly payments.


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