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You purchase an RV by making a down payment of $10,700. The terms of your finance agreement have an annual interest rate of 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,498.75 each. What is the cash price (in dollars) of your RV? (Round your answer to the nearest dollar.) $

You purchase an RV by making a down payment of $10,700. The terms of your finance agreement have an annual interest rate of 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,498.75 each. What is the cash price (in dollars) of your RV? (Round your answer to the nearest dollar.) $

Advanced Engineering Mathematics
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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You purchase an RV by making a down payment of $10,700. The terms of your finance agreement have an annual interest rate of 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,498.75 each. What is the cash price (in dollars) of your RV? (Round your answer to the nearest dollar.) %24
Transcribed Image Text:You purchase an RV by making a down payment of $10,700. The terms of your finance agreement have an annual interest rate of 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,498.75 each. What is the cash price (in dollars) of your RV? (Round your answer to the nearest dollar.) %24
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