A car was purchased for

$3100

down and payments of

$314

at the end of each

month

for

six

years. Interest is

7%

compounded

annually.

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

The purchase price of the car was

$nothing.

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

The amount of interest that will be paid is

$nothing.

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