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xenia is buying a used car. Payments will be $416.25 every month for 3 years, with the first payment at the end of 12 months.
xenia is buying a used car. Payments will be $416.25 every month for 3 years, with the first payment at the end of 12 months. The interest rate is 8.050% compounded quarterly. What is the equivalent cash price of the car?
a. X = $11,236.72.
b. X = $13,335.89.
c. X = $13,372.48.
d. X = $12,348.05.
e. None of the other answers is correct.
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