Question: You are considering purchasing a car with a financing program. Under the program, you will pay $6,472.65 every year for 5 years, starting right now

You are considering purchasing a car with a financing program. Under the program, you will pay $6,472.65 every year for 5 years, starting right now (five total payments). If the interest rate is 12.0%, what is the total present value of the stream of payments?

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