Question
Peter purchased a new car by making a down payment of 15% and agreeing to make payments of $240 at the end of each month
Peter purchased a new car by making a down payment of 15% and agreeing to make payments of $240 at the end of each month for 9 years. Interest is 3.2% compounded monthly. What was the purchase price of the car?
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Public Finance and Public Policy
Authors: Jonathan Gruber
4th edition
1429278455, 978-1429278454
