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Business, 19.03.2021 02:00 Andychulo7809

You have just taken out an installment loan totaling $50,000 to purchase a 1969 Pontiac Lemans convertible at 4% interest rate. The loan will be repaid over three years with equal annual payments. What is the amount of the equal annual payment and how much will your total payments throughout the loan exceed the $50,000 principal amount

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