A dealer sold a car to Derek for $5000 down and end-of-month payments of $499 for 5.5 years, including interest at 3.32% compounded annually. What was the selling price of the car? a.$30104.40 b.$10007.50 c.$7471.32 d.$35104.40
A dealer sold a car to Derek for $5000 down and end-of-month payments of $499 for 5.5 years, including interest at 3.32% compounded annually. What was the selling price of the car? a.$30104.40 b.$10007.50 c.$7471.32 d.$35104.40
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A dealer sold a car to Derek for $5000 down and end-of-month payments of $499 for 5.5 years, including interest at 3.32% compounded annually.
What was the selling price of the car?
a.$30104.40
b.$10007.50
c.$7471.32
d.$35104.40
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