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Author Question: A car was purchased for $4500.00 down and payments of $375.00 at the end of each month for 5 years. ... (Read 35 times)

cmoore54

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on: Jun 6, 2019

Question 1

A loan was repaid in 7.25 years by end-of month monthly payments of $472. If interest was 6.12% compounded monthly, how much interest was paid?

Question 2

A car was purchased for $4500.00 down and payments of $375.00 at the end of each month for 5 years. Interest is 9.72% compounded monthly.
a) What was the purchase price of the car?
b) How much will be the amount of interest paid?
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by cmoore54 on Jun 6, 2019

braelync

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Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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cmoore54

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Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

skipfourms123

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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