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Solve the Problem. -Jimmy Put $500 Down on a New Sports Car. He

Question 469

Multiple Choice

Solve the problem.
-Jimmy put $500 down on a new sports car. He made 60 payments of $275 and spent $774 in maintenance and repairs. Three years after paying off the car he sells it for $4450. What is his net? Is it profit or loss?


A) -$13,324, profit
B) -$13,324, loss
C) $2841, loss
D) $13,324, profit

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