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iz 2 rted: Feb 16 at 1:57pm uiz Instructions Question 3 If your foed monthly payment for a car loan is $250. The monthly prin
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Answer #1

Monthly Payment is $250 and the principal Portion is $140.

Interest Portion is = 250-140 i.e. 110. Now the monthly interest rate is 2%

let the Initial amount be X

so, 2% * X = 110 ; X= 5500

So the correct answer is 5500.

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