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a college student is buying a new car which cost $16 500 plus 8 sales tax. the title, license, and registration fees are $650. the
a college student is buying a new car which cost $16 500 plus 8 sales tax. the title, license, and registration fees are $650. the dealer offers her a financing program that starts with a small monthly payment, and the payment will gradually increase. The dealer offers to finance 80% of the car's price for 48 months at a nominal interest rate of 9% per year, compounded monthly. the first payment is $300 and each successive payment will increase be a constant dollar amount X.
a)How much is the constant amount X?
b)How much is the 48th payment?
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