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A car dealership advertises 6 year financing for one of their latest models. You're told that the annual interest rate is 3.7%, compounded montly, and
A car dealership advertises 6 year financing for one of their latest models. You're told that the annual interest rate is 3.7%, compounded montly, and that you'll only have to pay $200 per month. What is the price of the car?
A. $1,187.15
B. $12,895.85
C. $14,400.00
D. $16,095.89
E. None of the above.
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