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1. If you are financing a new car with a loan that requires 15% interest compounded monthly over a 4 year term. If you make

1. If you are financing a new car with a loan that requires 15% interest compounded monthly over a 4 year term. If you make payments $150 at the end of each month and your down payment will be $1,500, what is the maximum price you can pay for the car? (assume the purchase date is one month prior to the date of the first payment)

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