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You are buying a $35,000 car with 20% down, no sales tax, and by financing the balance for 5 years. If interest is 4.5% and monthly payment is $550,

You are buying a $35,000 car with 20% down, no sales tax, and by financing the balance for 5 years. If interest is 4.5% and monthly payment is $550, is this a good deal or a bad deal? Are you paying more than you owe? Prove your point by showing how you arrived at your conclusion.

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