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Simn purchased a car by making a down payment of $7,000 and monthly payments of $325 at the end of every month for 5 years.
Simn purchased a car by making a down payment of $7,000 and monthly payments of $325 at the end of every month for 5 years. If interest was 3.25% compounded monthly, 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 = I/Y = % P/Y = C/Y = PV = $ PMT = $ FV = $ Purchase Price of the Car = $ (enter a positive value)
Cost of Financing = $ (enter a positive value)
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