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You bought a car. You paid $20,000 as an initial payment. At the end of the third year, you paid another payment of $2,000.

You bought a car. You paid $20,000 as an initial payment. At the end of the third year, you paid another payment of $2,000. The remaining amount of car's price is to be paid at the end of 10 year. Knowing that the price of car is $32,000, find the amount after 10 years for the cash flow diagram if the interest rate is (use your last two digits your student ID) per year. Tip: use tables and draw cash flow.

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