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10 7 points eBook 101 Hint Print References Dave Krug finances a new automobile by paying $6,000 cash and agreeing to make 20 monthly

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10 7 points eBook 101 Hint Print References Dave Krug finances a new automobile by paying $6,000 cash and agreeing to make 20 monthly payments of $440 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 "Table Factor" to 4 decimal places.) Monthly Payment Table Values are Based on: 440 x Present Value of Table Factor Loan Present Value of Loan n = 20 i = 1% Cash Down Payment Cost of the Automobile + $ 6,000 =

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