Question 1168513
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Kent sold his car to Carolyn for $1,000 down and monthly payments of $120.03 at the end of every month 
for 3 1/2 years. The interest rate charged is 12%, compounded monthly. What was the selling price of the car?
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Calculations in the post by @CPhill are incorrect.


The correct values  (the answers)  are as follows:


Present value  (the loan value)  is  $4100.


The selling price was  $4100 + $1000 = $5100.