What was the purchase price of the piano

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Problem 1: Doris purchased a piano with $1300.00 down and monthly payments of $214.00 for 2 years at 9.72% compounded monthly. What was the purchase price of the piano?

Option 1: $5951.51

Option 2: $4650.58

Option 3: $5950.58

Option 4: $6453.25

Option 5: $4651.51

Reference no: EM132892176

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