A woman buys a car for $45,000. If the interest rate on the loan is 12%, compounded monthly, and if she wants to make monthly payments of $800 for 3 years, how much must she have for a down payment? Round your answer to the nearest dollar.
?
A. $29,500
B. $27,103
C. $20,914
D. $19,132
E. $25,050
Answer: C
Mathematics
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