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A new luxury car costs $39,000. If the price of the car has increased 2% in the past 12 months, how much did the car

A new luxury car costs $39,000. If the price of the car has increased 2% in the past 12 months, how much did the car cost 12 months ago? Assume the price increase follows a simple interest calculation. Group of answer choices $32,500.00 $31,451.61 $38,235.29 $38,085.94

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