A smooth-talking used-car salesman who smiles considerably is offering you a great deal on a "pre-owned" car. He says, "For only 5 annual payments of $2,500.00 this beautiful 1998 Honda Civic can be yours." If you can borrow money at 6%, what is the price of this car? Assume the payment is made at the end of each year.

If you can borrow money at 6%, what is the price of this car?