Business

Caprice

28 December, 12:14

Lupé made a down payment of $9000 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 6%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of $420/month for 24 months. What is the cash price of the car? (Round your answer to the nearest cent.)

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