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1a. If you take out a car loan for $30,000 for 6 years at 4.5%Simple interest what is the monthly payment? and How much will youpay in total for interest at the end of the 6 years?1b. If you take out a car loan for $30,000 for 6 years at 4.5%Compound Interest what is the monthly payment? and How much willyou pay in total for interest at the end of the 6 years?
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Basic Math