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The salesperson offers, Buy this new car for $30,000 cash or, with an appropriate down payment, pay $600 per month for 48 months at 12%

The salesperson offers, "Buy this new car for $30,000 cash or, with an appropriate down payment, pay $600 per month for 48 months at 12% interest." Assuming that the salesperson does not offer a free lunch, calculate the "appropriate" down payment.

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