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Determine the down payment of the loan

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Problem 1: James Agnew obtains a loan for $16,000 to purchase a used pickup truck. His down payment is 25% and the APR is 10% for 24 months. Determine the down payment of the loan.

Reference no: EM132718618

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Determine the down payment of the loan : $16,000 to purchase a used pickup truck. His down payment is 25% and the APR is 10% for 24 months. Determine the down payment of the loan.
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