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PLEASE ANSWER QUESTIONS IN BOX CLEARLY! Jeff bought a car for $54,000 by making a downpayment of $14,040 and monthly payments at the end of
PLEASE ANSWER QUESTIONS IN BOX CLEARLY!
Jeff bought a car for $54,000 by making a downpayment of $14,040 and monthly payments at the end of every month for 7 years. Interest is 3.88% compounded semiannually. 1. What are the monthly payments, rounded to the nearest cent? PAY = CNY = N = I/Y = % PV = $ PMT = $ 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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