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26 November, 10:27

Reg has just purchased a new car. The car had a list price of $22,499, and he was responsible for 7.96% sales tax, a $2,138 vehicle registration fee, and a $262 documentation fee. Reg's financing has an interest rate of 10.27%, compounded monthly, and a duration of three years. If Reg makes a monthly payment of $773.89, which of the following was his down payment? Round all dollar values to the nearest cent.

a.

$2,000

b.

$2,200

c.

$2,500

d.

$2,800

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Answers (1)
  1. 26 November, 10:42
    0
    I believe the answer would be $2,500 (C)
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