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7 Dave Krug finances a new automobile by poying $6,000 cash and agreeing to make 40 monthly payments of $550 eath, the first payment to

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Dave Krug finances a new automobile by poying $6,000 cash and agreeing to make 40 monthly payments of $550 eath, 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. EV of \$1, PVA of \$1, and EVA of \$1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) =1f(1+i)2 Table B3Present Value of an Annuiny of 1 n=111/1+iny

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