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Three years and two months ago, Mr. Magoo purchased a brand new Volkswagen Highline Jetta in Toronto for $32,854.75. He paid $5,000 as a down
Three years and two months ago, Mr. Magoo purchased a brand new Volkswagen Highline Jetta in Toronto for $32,854.75. He paid $5,000 as a down payment and financed the rest at 0.9% compounded monthly for six years. His payments have been $397.56 at the end of every month. a. What is the balance still owing on his vehicle today? b. How much interest will Mr. Magoo have paid at the end of 6 years Round final answers to two decimal places
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