A car was purchased for $1930 down and payments of $257 at the end of each month for four years. Interest is 4% compounded semi-annually. What was the purchase price of the car? How much interest will be paid? The purchase price of the car was $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest that will be paid is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
A car was purchased for $1930 down and payments of $257 at the end of each month for four years. Interest is 4% compounded semi-annually. What was the purchase price of the car? How much interest will be paid? The purchase price of the car was $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The amount of interest that will be paid is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:A car was purchased for $1930 down and payments of $257 at the end of each month for four years. Interest is 4%
compounded semi-annually. What was the purchase price of the car? How much interest will be paid?
The purchase price of the car was $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
The amount of interest that will be paid is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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