Ken bought a new car, but now he cannot remember the original purchase price. His payments are

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Ken bought a new car, but now he cannot remember the original purchase price. His payments are $379.50 per month for 36 months. He remembers that the salesperson said the simple interest rate for the period of the loan was 6%. He also recalls he was allowed $2500 on his old car. Determine the original purchase price.

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Let p amount Ken borrowed p 2500 purchase price Installm...View the full answer

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