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Jim is shopping for a used car he has found one priced at

Jim is shopping for a used car. He has found one priced at $4500. The dealer has told Jim that is he can come up with a down payment of $500 the dealer will finance of the price at 12% annual rate over 2 years (24 months). Assuming that Jim accepts the dealer's offer, what will his monthly (end-of-month) payment amount be?

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Operation Management: Jim is shopping for a used car he has found one priced at

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