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Question 8 (5 points) Miguel bought a car and is making month-end payments of $450.75 for the next 5 years to pay it off. The

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Question 8 (5 points) Miguel bought a car and is making month-end payments of $450.75 for the next 5 years to pay it off. The interest rate he is being charged is 3.8% compounded annually. a. What is the purchase price of the car if a $2,500 down payment was required? Considering inflows and outflows of cash, enter the appropriate values in the blanks below. Round final dollar answer to 2 decimal places. Mode - N- IY = A CY= N PV = PMT - N PY = FV = A/ Purchase Price = How much interest will Miguel end up paying by the time he makes the last payment

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