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A car was purchased for $3230 down and payments of $426 at the end of each month for three years. Interest is 3% compounded annually.
A car was purchased for $3230 down and payments of $426 at the end of each month for three years. Interest is 3% compounded annually. What was the purchase price of the car? How much interest will be paid?
The purchase price of the car was $____. (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 $____. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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