Exercise B-9 (Algo) Present value of an annuity LO P3 Dave Krug finances a new automobile by paying $7.000 cash and agreeing to make 40 monthly payments of $510 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 S1, PVA of S1, and EVA 051) (Use appropriate factor(s) from the tobles provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Factor Present Value of Loan Table Values are based on: Present Value of Loan Cash Down Payment Cost of the Automobile