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Sally bought a used car from Best Buy Autos for $10,000 on March 20. She paid $5,000 cash and signed a sales contract (promissory note)

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Sally bought a used car from Best Buy Autos for $10,000 on March 20. She paid $5,000 cash and signed a sales contract (promissory note) requiring a payment on September 1 of $5,000 plus interest at 11% p.a. from the date of sale. On July 1, the used car dealer sold the contract to a finance company which negotiated a price allowing it to realize a 16% rate of return. How much did the finance company pay for the contract? Round to the nearest dollar (no decimal places). 25 A

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