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Dave Krug finances a new automobile by paying $6,900 cash and agreeing to make 20 monthly payments of $430 each, the first payment to be

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Dave Krug finances a new automobile by paying $6,900 cash and agreeing to make 20 monthly payments of $430 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) (Use appropriate factor(s) from the tables provided. Round PVA factor to 4 decimal places.)

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