Question: While buying a new car, Ali made a down payment of $800 and agreed to make month-end payments of $260 for the next 5 years

While buying a new car, Ali made a down payment of $800 and agreed to make month-end payments of $260 for the next 5 years and 7 months. He was charged an interest rate of 3% compounded semi-annually for the entire term. a. What was the purchase price of the car

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