Hull wants to borrow a car after making a cash payment for, Financial Management

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Hull wants to borrow a car after making a cash payment for

Hull wants to borrow a car. After making a cash payment for tax, title, and a down payment, he will finance $32, 445.

The interest rate is ½% per month and payments will be required for 5 years.

How much will Hull's monthly payment be?

What is the effective annual rate of interest?

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Financial Management: Hull wants to borrow a car after making a cash payment for

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