Question: You are buying your first car with a 20% down payment. You have arranged to finance the remaining amount (80% of the price) with a

You are buying your first car with a 20% down payment. You have arranged to finance the remaining amount (80% of the price) with a 5-year loan with a 4.2% nominal interest rate and equal monthly payments of $325.72. What is the price of the car ?

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