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5. [-78.33 Points] DETAILS TANFIN10 5.2.024. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Lupe made a down payment of $1600 toward the purchase of a
5. [-78.33 Points] DETAILS TANFIN10 5.2.024. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Lupe made a down payment of $1600 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 10%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of $230/month for 60 months. What is the cash price of the car? (Round your answer to the nearest cent.)
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