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Alexa has purchased a new car. She paid $5,900 in cash as down payment and financed the remaining balance at 3.72% interest from her bank.

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Alexa has purchased a new car. She paid $5,900 in cash as down payment and financed the remaining balance at 3.72% interest from her bank. Her loan requires equal payments of $340 each month for 6 years with the first payment due 30 days from today. What is the cost of the car? (Hint: Find the financed amount first) N = I/Y = PV = PMT = A FV = AJ Your Answer = A/

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