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Christie makes loan payments of $950 at the end of each month towards the purchase of a recreational vehicle for a term of 4 years
Christie makes loan payments of $950 at the end of each month towards the purchase of a recreational vehicle for a term of 4 years at 4.25% compounded semi-annually, Referring to the "?"s in the table, and considering inflows and outflows of cash, enter the appropriate values in the blanks below. N TY CY PV PMT EV Mode END 4.25 2 ? ? 12 ? a. Determine the purchase price of the vehicle if Christie made a $10,000 down payment. N- A > PV = 4 AM PMT= FV- 14 Purchase Price - b. In total, how much will Christie have contributed towards the purchase of the vehicle by the end of the 4 years? Total Contribution- c. Christie is considering paying off the Iban early. What is the balance owing on the loan after she makes the 28th payment ? Balance Owing - A/ d. How much interest will she have paid out in total, if she pays the balance owing after the 28th payment ? Interest - A
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