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Question: a friend of yours bought a new sports car with...

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A friend of yours bought a new sports car with a ​$4,500 down payment plus a ​$25,000 car loan that is financed at an interest rate of 0.25​% per month for 60 months. After 2 ​years, the​ "Blue Book" value of her vehicle in the​ used-car marketplace is ​$14,000.

a. Calculate the required monthly loan payment on the car.

b. How much does your friend still owe on the car loan immediately after she makes her 24th ​payment?

c. Compare your answer to Part​ (b) to ​$14,000. This situation is called being​ "upside down." What can she do about​ it?

d. If she decides to keep the car but pay ​$200 more each month​, how many months will it take her to payoff the remaining loan she​ owes?

PLEASE ANSWER ALL PARTS

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