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Mathematics, 03.04.2021 06:20 rhondafits43771
The price of a new car is $40,000. Assume that an individual makes a down payment of 25% toward the purchase of the
car and secures financing for the balance at the rate of 14%/year compounded monthly. (Round your answers to the
nearest cent.)
A) what monthly payment will she be required to make if the car is finance over a period of 36 months and over a period of 60 months.
B) what will the interest charges be if she elects the 36 month plan and 60 months plan
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Answers: 2
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