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You Decide to Take Out a Car Loan for $25,000

Question 112

Multiple Choice

You decide to take out a car loan for $25,000 at 6% APR for 60 months.What is the outstanding principal of your loan after you make your first payment?


A) $24,875.00
B) $24,516.68
C) $24,641.68
D) $24.734.32
E) $24,975.14

Correct Answer:

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