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03-06-2023
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Using the following information, what is the cost to buy a car? - Down payment $2000 - Monthly loan payment ($300 per month for a 5-year loan) - Opportunity cost of down payment ($2000× loan period (in years) ×2% interest) - Estimated value of vehicle at end of ownership period ($2,000) Select one: a. $18,000 b. $20,000 c. $18,200 d. $20,200

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