A car was purchased for $1500 down and payments of $265 at the end of each month

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A car was purchased for $1500 down and payments of $265 at the end of each month for four years. Interest is 9% compounded quarterly.
(a) What was the purchase price of the car?
(b) How much interest will be paid?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Sep 21, 2024 05:20 AM

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A car was purchased for $1500 down and payments of $265 at the end of each month

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a PMT 26500 i 225 n 48 c 412 13 p 10225 13 1 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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