Register
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?
200k views
5 votes
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
by
8.0k points

1 Answer

1 vote
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
by
6.9k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!