You are buying a used car and have determined that you can afford a down payment of $2,500 and end-of-month car loan payments of $425 for the next 4 years. If a car loan carries interest at 6% compounded monthly, what is the highest total price you can afford to pay for a car today? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Highest total price $ _______________

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