Question: 3. A car may be purchased with a $2000 down payment now and 36 monthly payments of $500. If the (annual) interest rate is 5%

3. A car may be purchased with a $2000 down payment

3. A car may be purchased with a $2000 down payment now and 36 monthly payments of $500. If the (annual) interest rate is 5% compounded monthly, what is the price of the car

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