Answered

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Wendy made a down payment of $1,500 toward the purchase of a new car. To pay the balance of the
purchase price, she has secured a loan from her bank at the rate of 9.5%/year compounded monthly.
Under the terms of her finance agreement, she is required to make payments of $275/month for 60 months. What is the cash price of the car?

Sagot :

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