Question
While buying a new car, Gabrielle made a down payment of $700 and agreed to make month-end payments of $330 for the next 4 years
While buying a new car, Gabrielle made a down payment of $700 and agreed to make month-end payments of $330 for the next 4 years and 6 months. He was charged an interest rate of 5% compounded semi-annually for the entire term.
What was the purchase price of the car?
What was the total amount of interest paid over the term?
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Personal Finance
Authors: Jack Kapoor, Les R. Dlabay, Robert J. Hughes
2nd Edition
0256079056, 9780256079050
