Multiple Choice
A woman buys a car for $45,000. If the interest rate on the loan is 12%, compounded monthly, and if she wants to make monthly payments of $800 for 3 years, how much must she have for a down payment? Round your answer to the nearest dollar.
A) $29,500
B) $27,103
C) $20,914
D) $19,132
E) $25,050
Correct Answer:
Verified
Correct Answer:
Verified
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