Fred purchased a new car. His monthly payments are $600 per month. He will be...
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Fred purchased a new car. His monthly payments are $600 per month. He will be paying on his car for 5 years, and the loan costs 6% per year compounded monthly. What was the original cost of the car?
a) $31,033.34
b) $31,035.34
c) $31,036.34
d) $31,031.34
e) $31,038.34
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