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Todd can afford to pay $425 per month for the next 5 years in order to purchase a new car. The interest rate is 7.5

Todd can afford to pay $425 per month for the next 5 years in order to purchase a new car. The interest rate is 7.5 percent compounded monthly. What is the most he can afford to pay for a new car today?

a.$20,149.27

b.$21,916.75

c.$20,917.32

d.$21,209.76

e.$30,824.02

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