Your friend just purchased a new car and you have a feeling she got ripped...
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Finance
Your friend just purchased a new car and you have a feeling she got ripped off. She told you she paid $19,999.99 and her car should be paid off in 5 years. You happen to be interested in the same vehicle, and based on your research, she should have paid a maximum of $15,999 (including the dealer commissions). She could squeeze out a $500 car payment, which is a lot, and she's been approved at a 7% APR. How much time could she have saved if she did her homework?
Group of answer choices
10.16 years
1.016 months
10.16 months
121.92 months
2 years
Answer & Explanation
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