Lupe made a down payment of $8000 towards the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 12% compounded monthly. Under the...

Lupe made a down payment of $8000 towards the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 12% compounded monthly. Under the terms of her finance agreement, she is required to make payments of $420 per month for 36 months. What is the cash price of the car?