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?
Let's find answer to your question.
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?