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Personal Finance Literacy Exam 8
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Personal Finance Literacy Exam 8
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1. Review the following information on financing a new car that costs $25,000 with a 48-month (four year) loan.
Person Down payment Bank Loan Dealer Loan Monthly Payment
25 Year old Male $5,000 5% $460
30 Year old Female $5,000 6% $470 The 30-year-old female's monthly payment of $470 is more than the 25-year-old male's monthly payment of $460 because of the

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