Abby W. deposits $75 per month into an account paying 9% interest for 2 years, to be used to purchase a car. The car she selects costs more than the amount in the account. She agrees to pay $125 per month for 2 more years at 12% interest, and also uses a gift from her uncle of $375 as part of the down payment. What is the cost of the car to the nearest dollar? Jason W. bought a Mercedes when he came to UTM as an engineering student. The Mercedes was purchased by taking a loan that was to be paid off in 20 equal, quarterly payments. The Interest rate on the loan was 12%. Four years later, after Jason made his 16^th payment, he got married (no more dating!) and sold the Mercedes to his buddy Houston S. Houston made arrangements with Jason's bank to refinance the loan and to pay Jason's unpaid balance by making 16 ft equal, quarterly payments at the same interest rate that Jason was paying. Houston flunked out of UTM (too many dates!) 3 1/4 years later, after having made his 13th payment; he then sold the eat to Jeff M. Jeff paid the bank $2000 cash (he had a good summer job!) to pay the loan balance. How much had Jason borrowed to buy the new Mercedes