Lupe made a down payment of $2100 toward the purchase of a new car. To pay the

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Lupe made a down payment of $2100 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 12%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of $210/month for 48 months. What is the cash price of the car? (Round your answer to the nearest cent.)


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Financial Accounting A User Perspective

ISBN: 978-0470676608

6th Canadian Edition

Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry

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