Wade Ellis buys a new car for $16,437.63. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1/2% interest for four years. (Round your answers to the nearest cent.)

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Wade Ellis buys a new car for $16,437.63. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1/2% interest for four years. (Round your answers to the nearest cent.)

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