A car dealer offers to buy your car for $9,500 so that you can purchase a new one. If your monthly payment is $464.23 with an annual interest rate of 4.8% and you have 20 more payments remaining, is the present value of your car loan more or less than the amount the dealer is offering?     How much more or less (in dollars) is the present value of your car loan compared to the amount the dealer is offering? (Enter a number. Round your answer to the nearest cent.)

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.