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    Business Mathematics Study Set 1
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    Exam 10: Annuities: Future Value and Present Value
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    Jane Is Making Monthly Payments of $450 for Four Years
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Jane Is Making Monthly Payments of $450 for Four Years

Question 4

Question 4

Short Answer

Jane is making monthly payments of $450 for four years for a car at an interest rate of 5.5% compounded semi-annually. What was the purchase price of the car?

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