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uto Financing A consumer made a down payment of $ 2 0 0 0 toward the purchase of a new car. To pay the balance

uto Financing A consumer made a down payment of $2000 toward the purchase of a new car. To pay the
balance of the purchase price, she has secured a loan from her bank at the rate of 12% per year
compounded monthly. Under the terms of her finance agreement, she is required to make payment of
$210 each month for 36 months. What is the cash price of the car? What is the total amount paid
for the balance of the car? (Include the down payment in your answers.) How much money would be saved
by paying cash for the car?

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