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Jane purchases a car worth $ 35,000. She decides to pay $ 5000 down and
agrees to pay the remaining over the next 10 years in 10 equal annual payments.
She will pay an interest rate of 13% annually. Calculate the amount of each
payment that Jane has to effect?Please stop typing out questions and expecting me to provide an answer.
You must have an answer in the same book in which you found the question, so ask about whatever it is in the answer that you are not clear about.
(If you do not have an answer because it was given to you as a test, then do not expect me to do your homework for you)There is no way that this would be asked in Paper FM anyway. It is a Paper MA question so watch the relevant free lectures for Paper MA.
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