Joanne borrowed $3100 from the bank in order to buy a new camper. She will pay it off by equal payments at the end of each week for 4 years. The annual interest rate is 6.1%. Determine the size of payments, and the total interest paid. Express your answers rounded to the nearest cent! Payments: $ Total interest
Joanne borrowed $3100 from the bank in order to buy a new camper. She will pay it off by equal payments at the end of each week for 4 years. The annual interest rate is 6.1%. Determine the size of payments, and the total interest paid. Express your answers rounded to the nearest cent! Payments: $ Total interest
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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Joanne borrowed $3100 from the bank in order to buy a new camper. She will pay it off by equal payments at the end of each week for 4 years. The annual interest rate is 6.1%. Determine the size of payments, and the total interest paid.
Express your answers rounded to the nearest cent!
Payments: $
Total interest: $
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