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OpenStudy (anonymous):
Maya bought a car for $15,000. To pay for it, she took a bank add-on interest loan at an annual interest rate of 4%. The loan term is 8 years. If she makes a down payment of $3,000, how much will this reduce her monthly payments? Round to two decimals.
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OpenStudy (amistre64):
is a 'bank add-on interest' loan a special type of loan? or just another name for taking out a loan?
OpenStudy (amistre64):
what is you monthly payment formula?
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