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Fritz benjamin buys a car costing $12300. He agrees to make payment at the end of each month period for 8 years. He pays 7.2% interest compounded monthly. what is the amount of …

Fritz benjamin buys a car costing $12300. He agrees to make payment at the end of each month period for 8 years. He pays 7.2% interest compounded monthly. what is the amount of …
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Fritz benjamin buys a car costing $12300. He agrees to make payment at the end of each month period for 8 years. He pays 7.2% interest compounded monthly. what is the amount of each payment? find the total amount of interest fritz will pay?

User Miwin
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1 Answer

3 votes
12300=X[((1-(1+(0.072/12)^(-12*8))/(0.072/12)]
Solve for x
X=168.92
User Bikas Lin
by
8.0k points
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