Dave Krug finances a new automobile by paying $6,000 cash and agreeing to make 10 monthly payments of $490 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1,FV of $1, PVA of $1, and FVA of \$1) Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places. Table B.1* Present Value of 1 p=1/(1+i)n Table B. 2 Future Value of 1 f=(1+i)n Used to calculate the present value of a series of equal payments made at Table B.4 Future Value of an Annuity of 1 f=[(1+i)n1]/i \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & \multicolumn{13}{|c|}{ Rate } \\ \hline Periods & 1% & 2% & 3% & 4% & 5% & 6% & 7% & 8% & 9% & 10% & 12% & 15% & Periods \\ \hline 1 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1.0000 & 1 \\ \hline 2 & 2.0100 & 2.0200 & 2.0300 & 2.0400 & 2.0500 & 2.0600 & 2.0700 & 2.0800 & 2.0900 & 2.1000 & 2.1200 & 2.1500 & 2 \\ \hline 3 & 3.0301 & 3.0604 & 3.0909 & 3.1216 & 3.1525 & 3.1836 & 3.2149 & 3.2464 & 3.2781 & 3.3100 & 3.3744 & 3.4725 & 3 \\ \hline 4 & 4.0604 & 4.1216 & 4.1836 & 4.2465 & 4.3101 & 4.3746 & 4.4399 & 4.5061 & 4.5731 & 4.6410 & 4.7793 & 4.9934 & 4 \\ \hline 5 & 5.1010 & 5.2040 & 5.3091 & 5.4163 & 5.5256 & 5.6371 & 5.7507 & 5.8666 & 5.9847 & 6.1051 & 6.3528 & 6.7424 & 5 \\ \hline 6 & 6.1520 & 6.3081 & 6.4684 & 6.6330 & 6.8019 & 6.9753 & 7.1533 & 7.3359 & 7.5233 & 7.7156 & 8.1152 & 8.7537 & 6 \\ \hline 7 & 7.2135 & 7.4343 & 7.6625 & 7.8983 & 8.1420 & 8.3938 & 8.6540 & 8.9228 & 9.2004 & 9.4872 & 10.0890 & 11.0668 & 7 \\ \hline 8 & 8.2857 & 8.5830 & 8.8923 & 9.2142 & 9.5491 & 9.8975 & 10.2598 & 10.6366 & 11.0285 & 11.4359 & 12.2997 & 13.7268 & 8 \\ \hline 9 & 9.3685 & 9.7546 & 10.1591 & 10.5828 & 11.0266 & 11.4913 & 11.9780 & 12.4876 & 13.0210 & 13.5795 & 14.7757 & 16.7858 & 9 \\ \hline 10 & 10.4622 & 10.9497 & 11.4639 & 12.0061 & 12.5779 & 13.1808 & 13.8164 & 14.4866 & 15.1929 & 15.9374 & 17.5487 & 20.3037 & 10 \\ \hline 11 & 11.5668 & 12.1687 & 12.8078 & 13.4864 & 14.2068 & 14.9716 & 15.7836 & 16.6455 & 17.5603 & 18.5312 & 20.6546 & 24.3493 & 11 \\ \hline 12 & 12.6825 & 13.4121 & 14.1920 & 15.0258 & 15.9171 & 16.8699 & 17.8885 & 18.9771 & 20.1407 & 21.3843 & 24.1331 & 29.0017 & 12 \\ \hline 13 & 13.8093 & 14.6803 & 15.6178 & 16.6268 & 17.7130 & 18.8821 & 20.1406 & 21.4953 & 22.9534 & 24.5227 & 28.0291 & 34.3519 & 13 \\ \hline 14 & 14.9474 & 15.9739 & 17.0863 & 18.2919 & 19.5986 & 21.0151 & 22.5505 & 24.2149 & 26.0192 & 27.9750 & 32.3926 & 40.5047 & 14 \\ \hline 15 & 16.0969 & 17.2934 & 18.5989 & 20.0236 & 21.5786 & 23.2760 & 25.1290 & 27.1521 & 29.3609 & 31.7725 & 37.2797 & 47.5804 & 15 \\ \hline 16 & 17.2579 & 18.6393 & 20.1569 & 21.8245 & 23.6575 & 25.6725 & 27.8881 & 30.3243 & 33.0034 & 35.9497 & 42.7533 & 55.7175 & 16 \\ \hline 17 & 18.4304 & 20.0121 & 21.7616 & 23.6975 & 25.8404 & 28.2129 & 30.8402 & 33.7502 & 36.9737 & 40.5447 & 48.8837 & 65.0751 & 17 \\ \hline 18 & 19.6147 & 21.4123 & 23.4144 & 25.6454 & 28.1324 & 30.9057 & 33.9990 & 37.4502 & 41.3013 & 45.5992 & 55.7497 & 75.8364 & 18 \\ \hline 19 & 20.8109 & 22.8406 & 25.1169 & 27.6712 & 30.5390 & 33.7600 & 37.3790 & 41.4463 & 46.0185 & 51.1591 & 63.4397 & 88.2118 & 19 \\ \hline 20 & 22.0190 & 24.2974 & 26.8704 & 29.7781 & 33.0660 & 36.7856 & 40.9955 & 45.7620 & 51.1601 & 57.2750 & 72.0524 & 102.4436 & 20 \\ \hline 25 & 28.2432 & 32.0303 & 36.4593 & 41.6459 & 47.7271 & 54.8645 & 63.2490 & 73.1059 & 84.7009 & 98.3471 & 133.3339 & 212.7930 & 25 \\ \hline 30 & 34.7849 & 40.5681 & 47.5754 & 56.0849 & 66.4388 & 79.0582 & 94.4608 & 113.2832 & 136.3075 & 164.4940 & 241.3327 & 434.7451 & 30 \\ \hline 35 & 41.6603 & 49.9945 & 60.4621 & 73.6522 & 90.3203 & 111.4348 & 138.2369 & 172.3168 & 215.7108 & 271.0244 & 431.6635 & 881.1702 & 35 \\ \hline 40 & 48.8864 & 60.4020 & 75.4013 & 95.0255 & 120.7998 & 154.7620 & 199.6351 & 259.0565 & 337.8824 & 442.5926 & 767.0914 & 1,779.0903 & 40 \\ \hline \end{tabular} year for 6 years accumulates to $29,343.60($4,0007.3359)