A car was purchased for

$2750

down and payments of

$401

at the end of each

month

for

five

years. Interest is

6%

compounded

semi-annually.

What was the purchase price of the car? How much interest will be paid?

Question content area bottom

Part 1

The purchase price of the car was

$enter your response here.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Part 2

The amount of interest that will be paid is

$enter your response here.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)