Lupe made a down payment of $1,500 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 12%/year compounded monthly. Under the terms of her finance agreement, she is required to make payments of $240/month for 48 mo. What is the cash price of the car? Round your answer to the nearest cent.
$ __________

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The Answer of Lupe made a down payment of $1,500 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 12%/year compounded monthly. Under the terms of her finance agreement, she is required to make payments of $240/month for 48 mo. What is the cash price of the car? Round your answer to the nearest cent.
$ __________

Lupe Made a Down Payment of $1,500 Toward the Purchase