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Mathematics 11 Online
OpenStudy (anonymous):

Can someone explain this problem to me? The formula is 2yc/m(n+1). Jane Smart buys a new SUV. The price, including tax, is $22,500.00. She finances the vehicle over 60 months after making a $2,000 down payment. The true annual interest rate is 12%. What are Jane's monthly payments (principal plus interest)?

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