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Todd can afford to pay $395 per month for the next 5 years in order to purchase a new car. The interest rate is 6.9

Todd can afford to pay $395 per month for the next 5 years in order to purchase a new car. The interest rate is 6.9 percent compounded monthly. What is the most he can afford to pay for a new car today? Multiple Choice $18,996.10 $20,662.43 $19,995.90 $28,206.12 $19,715.87

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