Solved: Determine down payment to buy a car, Finance Basics

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Determine down payment to buy a car

You are buying a car, its total price is $25,000. As part of the deal you will make a down payment today, but your first monthly payment will be 2 years from today. The loan will be 36 months, with a rate of 8% per year. If you want your monthly payment to be $300, what must your down payment be?

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Finance Basics: Determine down payment to buy a car

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