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Ayhan can afford to pay $ 5 0 0 per month for the next 6 years in order to purchase a new bike. The interest

Ayhan can afford to pay $500 per month for the next 6 years in order to purchase a new bike. The interest rate is 9.8 percent compounded monthly. What is the most he can afford to pay for a new bike today? Please note that convert the year in months remaining is same

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