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You want to buy a car. Suppose you borrow $15,000 for two years at an APR of 7%. What will your monthly payment be? How much interest will you have paid by the end of the loan?

I've gotten half of the question right, but I'm not sure which half since I can't only see that I have half a point on it.

1 answer

I = PRT

I = 15,000 * 0.07 * 2

I = 2,100

(15,000 + 2,100) / 24 = ?
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