Question: I am financing a used car purchase with a $423 monthly payment. The total number of payments is 60, with the first payment made today

I am financing a used car purchase with a $423 monthly payment. The total number of payments is 60, with the first payment made today (so the last payment is 59 months from today). If the rate being charged is 6% APR compounded monthly, what is the amount borrowed?

(Round to the nearest whole dollar. Do not include '$' signs. E.g., if actual solution is $5,343.24, then enter 5,343 in box)

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