Lupe made a down payment of 8000 toward the purchase of a, Ask an Expert

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Lupe made a down payment of $8000 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 $460/month for 48 months. What is the cash price of the car? (Round your answer to the nearest cent.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M93053878

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