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Dave Krug finances a new automobile by paying $6.400 cash and agreeing to make 30 monthly payments of $410 each, the first payment to be
Dave Krug finances a new automobile by paying $6.400 cash and agreeing to make 30 monthly payments of $410 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? Py of S1, FV of $1. PVA of $1. and EVA of $9 (Use appropriate factor(s) from the tables provided. Round Table Factor" to 4 decimal places.) Table Factor Monthly Payment 5 Present Value of loan Table Values are Based on: Present Value of Loan Cash Down Payment Cost of the Automobile
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