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Business, 17.12.2020 14:40 AkramMasoud

Mia recently bought a car worth $20,000 on loan with an interest rate of 6.6%. She made a down payment of $1,000 and has to repay the loan within two years (24 months). Calculate her total cost. Finding the total cost takes two steps. Example and formula can be found on slide 10. (HINT Don't forget her down payment is also part of the total cost). Please show all math steps.

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