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You want to buy a new car, but you can make an initial payment of only $1464 and can afford monthly payments of at most

You want to buy a new car, but you can make an initial payment of only $1464 and can afford monthly payments of at most $545. If the interest rate is 9.3 percent per year compounded monthly and you finance the purchase over 48 months, what is the maximum price you can pay for the car?

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