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Can someone explain this please Bautista bought a car for $27,000 by making a downpayment of $6,480 and monthly payments at the end of every
Can someone explain this please
Bautista bought a car for $27,000 by making a downpayment of $6,480 and monthly payments at the end of every month for 7 years. Interest is 1.24% compounded quarterly. 1. What are the monthly payments, rounded to the nearest cent? P/Y= C/Y= % PV=$ PMT=$ s N= I/Y= PV=$ FV=$ 2. What is the cost of financing? Cost of Financing =$ (enter a positive value, rounded to the nearest cent)Step by Step Solution
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