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What was the purchase price of the car

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Problem 1: A car was purchased for $4500.00 down and payments of $375.00 at the end of each month for 5 years. Interest is 9.72% compounded monthly. What was the purchase price of the car?

Option 1: $28 825.01

Option 2: $18 674.56

Option 3: $22 272.74

Option 4: $17 764.48

Option 5: $22 264.48

Reference no: EM132892180

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