How to solve

Question $8$

$4$ pts

$1$

Details

You want to buy a new car. You can afford payments of $$350$ per month and can borrow the money at an interest rate of $4\mathrm{.}1\%$ compounded monthly for $5$ years.

How much are you able to borrow?

How much interest do you pay?

$

Question $8$

$4$ pts

$1$

Details

You want to buy a new car. You can afford payments of $$350$ per month and can borrow the money at an interest rate of $4\mathrm{.}1\%$ compounded monthly for $5$ years.

How much are you able to borrow?

How much interest do you pay?

$