This topic contains a solution. Click here to go to the answer
« previous next »

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 71 times)

cmoore54

  • Hero Member
  • *****
  • Posts: 568
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by cmoore54 on Jun 6, 2019

braelync

  • Sr. Member
  • ****
  • Posts: 350
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.
Answer Preview
Only 25% of students answer this correctly


cmoore54

  • Member
  • Posts: 568
Reply 2 on: Jun 6, 2019
Thanks for the timely response, appreciate it

Sarahjh

  • Member
  • Posts: 370
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Levallois points and flakes from Kapthurin, Kenya date to between 200,000 and 280,000 years ago. Levallois points and flakes from Kapthurin, Kenya date to between 200,000 and 280,000 years ago.
One in three survivors of Hurricane Katrina showed signs of PTSD a month after the tragedy; one in ... One in three survivors of Hurricane Katrina showed signs of PTSD a month after the tragedy; one in ...
Noid lights are usually purchased as an assortment so that one is available for any type or size ... Noid lights are usually purchased as an assortment so that one is available for any type or size ...
Hector makes payments of $2000.00 into an RRSP at the beginning of every six months starting ... Hector makes payments of $2000.00 into an RRSP at the beginning of every six months starting ...
Rola Inc. borrowed $42 000.00 at 7% compounded semi-annually. The loan is repaid by payments of ... Rola Inc. borrowed $42 000.00 at 7% compounded semi-annually. The loan is repaid by payments of ...
Population age 65 and over and age 85 and over, selected years 1900-2008 and projected 2010-2050. Population age 65 and over and age 85 and over, selected years 1900-2008 and projected 2010-2050.
Video: Optic Nerve and Optic Disk Animation (Part 1 of 2)

For a complete list of videos, visit our video library