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Dave Krug finances a new automobile by paying $7,300 cash and agreeing to make 20 monthly payments of $520 each, the first payment to be
Dave Krug finances a new automobile by paying $7,300 cash and agreeing to make 20 monthly payments of $520 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 (Use epproprlate fector(s) from the tables provlded. Round "Teble Fector" to 4 declmal pleces.)
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