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You recently bought a used car from a friend. He agreed to let you pay for the car over 4 years. At the end of

You recently bought a used car from a friend. He agreed to let you pay for the car over 4 years. At the end of year 1, you will pay him $1,014, $1,961 at the end of year 2, $3,045 at the end of year 3, $3,457 at the end of year 4. Interest Rates for used cars are currently 5%. What is the equivalent price of the car if you paid on the day you got the car?

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