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To purchase a new truck it is necessary to borrow $ 3 5 , 0 0 0 . The bank car dealer offers a 6
To purchase a new truck it is necessary to borrow $ The bank car dealer offers a yr loan at an interest rate of compounded annually. If you make only one payment at the end of the loan period, repaying the principal and interest, what is the total amount that must be paid back?
a what is the number of compounding periods?
b what is the rate of interest?
c what is the total amount that must be paid?
d What is the amount of interest?
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