B.

Jill buys a Mercedes for $34000 paying $4000 down and the reminder in equal monthly payments over 6 years at 7%c.m. She misses payments 20 and 21 and then resumes regular payments.

a) Determine the regular monthly payment.

b) What is Bal₁₉?

c) What is new P.V. and n for new P.V. ( write these two values as P.V. , n; round n to two decimal places)

d) What will be the last partial payment (without final month interest)?

e) What is the final payment?

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