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please tell me the detail step so i can understand and don't use excel A used car is purchased for $2000 down and $200 a
please tell me the detail step so i can understand and don't use excel
A used car is purchased for $2000 down and $200 a month for 6 years. Interest is at i(12) = 10%. a) Determine the price of the car. b) If the first 4 monthly payments are missed, what payment at the time of the 5th payment will update the payments? c) Assuming no payments are missed, what single payment at the end of 2 years will completely pay off the debt? d) After 27 payments have been made, the contract is sold to a buyer who wishes to yield ;(12) = 12 %. Determine the sale price. Maria receives an inheritance of $25 000 on May 14, 2010. If she invests the money in a fund paying i(4) = 7%, how much can she withdraw every 3 months if the first withdrawal is August 14, 2010, and the final withdrawal is August 14, 2025Step by Step Solution
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