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1 July, 05:53

Your friend just purchased a new sports car for $32,000. He received $6,000 for his trade in and he used that money as a down payment for the new sports car. He financed the vehicle at 6.76% APR over 48 months with a monthly payment of $619.71. Determine, from the information given, the installment price of the loan.

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  1. 1 July, 06:59
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    The car buyer paid $26,000 for his sports car. To find the finance charge, you must subtract this from the total of his 48 payments.

    48 · 619.15 - 26000 = $3719.20.
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