Alex is financing a new luxury truck. He willmake 144 level end of month paymebts withnominal interest rate 8.4% convertiblemonthly. He makes a down payment of5,000,000.00 and the amount of principal paidin the 72nd payment is 735,564.4293a) what is the price of the luxury truckand b) Alex misses his scheduled payments37-48 and on scheduled payment 49 heresumes making payments at the original setamount. He still pays off the loan after 144months by making a larger final payment.What is the amount of the final payment?

a) the price of the luxury truck is 50000

Answered: Alex is financing a new luxury truck.…

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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