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Nader plans to buy a used car. He can afford to pay $280 at the end of each month for three years. The best interest

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Nader plans to buy a used car. He can afford to pay $280 at the end of each month for three years. The best interest rate he can find is 9.8%la, compounded monthly. For this interest rate, the most he could spend on a vehicle is $8702.85. Determine the amount he could spend on the purchase of a car if the interest rate is 9.8%/a, compounded annually

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