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Esther pays $467 per month for 5 years for a car. she made a down payment of $3,700. if the loan costs 7.1% per year compounded monthly, what was the cash price of the car?
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Esther pays $467 per month for 5 years for a car. she made a down payment of $3,700. if the loan costs 7.1% per year compounded monthly, what was the cash price of the car?

User Streetlogics
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The present value of the string of payments added to the down payment is $27,228.33. This is the cash price of the car.
Esther pays $467 per month for 5 years for a car. she made a down payment of $3,700. if-example-1
User Jubstuff
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