Question: Ronald secured a 6-year car loan at 5.30% compounded annually that required him to make payments of $886.98 at the beginning of each month. Calculate

Ronald secured a 6-year car loan at 5.30% compounded annually that required him to make payments of $886.98 at the beginning of each month. Calculate the cost of the car if he made a downpayment of $3,500.

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