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A car valued at $13,900 can be purchased for 5 % down and monthly payments of $400 for three years. What is the nominal rate
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Car valu $ 13900 5. dam paymunttufou . 4$13900 $695 13205 neeof to be pey no in nstalmts auy monh $ho pal Aeufo tatal $144 baNote- please find me in comment box if you find any difficulty. As inflation is not considered therefore nominal rate is same as actual rate of interest.

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