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I can't seem to get the answer for Cost of Financing. How do you do this step? Caleb purchased a car by making a down
I can't seem to get the answer for Cost of Financing. How do you do this step?
Caleb purchased a car by making a down payment of $6,000 and weekly payments of $475 at the end of every week for 5 years. If interest was 2.35% compounded weekly, what was the purchase price of the car? What was the cost of financing? Round all answers to two decimal places if necessary. Enter only positive values for the "Purchase Price of the Car", and "Cost of Financing". N= PV=$ 1/Y= PMT=$ %P/Y= FV=$ C/Y= 0 Purchase Price of the Car =$ (enter a positive value)Step by Step Solution
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