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Business, 12.02.2020 01:33 jacobmacalpine

Dave Krug finances a new automobile by paying $5,700 cash and agreeing to make 40 monthly payments of $580 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round PVA factor to 4 decimal places.) Monthly Payment p (PV of an Ordinary Annuity) Present Value of Loan Table Values are Based on: 40 1.0% Present Value of Loan Cash Down Payment Cost of the Automobile 5,700::

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