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You buy a car paying $ 10,000 down payment and the balance in monthly installments for 3 years. If the first 2 years you must
You buy a car paying $ 10,000 down payment and the balance in monthly installments for 3 years. If the first 2 years you must pay $ 3,722.66 each month and in the third year $ 7,445.32 each month, what is the cash price of the car, if the interest rate is 15% compounded each month?
What was the total interest paid on the financing?
*provide full procedure result explanation, and if possible use an excell sheet and attatch it, thanks*
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