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Dave Krug finances a new automobile by paying $5,800 cash and agreeing to make 10...

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Accounting

Dave Krug finances a new automobile by paying $5,800 cash and agreeing to make 10 monthly payments of $520 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)

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