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1 . Lup made a down payment of $ 7 0 0 0 toward the purchase of a new car. To pay the balance of

1. Lup made a down payment of $7000 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 9%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of $450/month for 48 months. What is the cash price of the car?

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