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1. You are going to purchase a new car for $32,000. You have negotiated a discount of $500. You have to pay 8.7% in sales tax and there is a $400 Document/Licensing Fee. You have a trade in that is worth $4,000. You also have $1,500 in cash to use as a down payment. You choose a loan that is 5 years and has an interest rate of 5.5%. WHAT IS YOUR MONTHLY PAYMENT?​