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Don James purchased a new automobile for $26.000 Don made a cash down payment of $6,500 and agreed to pay the remaining balance in 30
Don James purchased a new automobile for $26.000 Don made a cash down payment of $6,500 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate (EV of $1. PV of $1. EVA C. $1. PVA of $1. EVAD of S1 and PVAD of 51) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment. (Do not round Intermediate calculations. Round your final answer to nearest whole dollar amount.) Monthly payment
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