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The Johnsons want to buy a 2020 Nissan Altima for $29,230.

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The Johnsons want to buy a 2020 Nissan Altima for $29,230. Bank of
America will charge them a 5.25 percent annual rate compounded monthly for a 5-year loan.
• If the Johnsons can afford a $450 monthly payment, how much do they need to borrow?
• How much would the Smiths need for a down payment?

Hi I am so confused please help!!

 
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