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You would like to buy a Ford Mustang car. The car loan requires payments of $500 per month for the first year and payments of

You would like to buy a Ford Mustang car. The car loan requires payments of $500 per month for the first year and payments of $1,000 per month during the second year and also payments of 2,000 per month during the third year. The APR is 30% and payments begin in one month. What is the present value of this 3-year loan?

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