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MATH 11-Mary wants to buy a $19, 000 car, but she can afford to pay only $300 per month

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June 7th, 2024

1. Mary wants to buy a $19, 000 car, but she can afford to pay only $300 per month for 5years.If the interest rate is 13%, how much does she need to put down?2. If a bank pays 5. 57% compounded monthly, what is the effective interest rate?

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