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Paul makes car payments of $4945 at the end of each six month period for 3 years followed by month-end payments of $691 for a
Paul makes car payments of $4945 at the end of each six month period for 3 years followed by month-end payments of $691 for a further 3 years. If interest is calculated at 6% semiannually, what was the value of the car at the time of purchase?
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