Question

Esther pays $532 per month for 5 years for a car. She made a down payment of $3,700. If the loan costs 7.1% per year compounded monthly, what was the cash price of the car?
a) $23,103.15
b) $41,886.17
c) $34,486.17
d) $30,503.15
e) $26,803.15
f) None of the above.