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You purchase a new car. The dealer requires that you put %6,000 down followed by amonthly payments of $999 over four years. (The first payment

You purchase a new car. The dealer requires that you put %6,000 down followed by amonthly payments of $999 over four years. (The first payment is made one month after you buy the car). The interest rate is 9.9% effective. a) What is the cash price (selling price? of the car? b) What is the cost of financing?

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