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Unformatted text preview: need something then they will not think twice about buying it. If they need a house they buy it no matter what the rate is. When the rates are low you pay less for the money and can afford to buy more, if you buy based on payments . Let’s say you buy a car for $20,000 and finance it at 10% interest. You may make payments for 5 years and at the end of 5 years you would have paid a total of $25,496 in car payments. $20,000 for the car and $5,496 for the rent on the money....
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This note was uploaded on 01/07/2012 for the course COM 155 155 taught by Professor Shepherd during the Spring '10 term at University of Phoenix.
- Spring '10