An installment contract for the purchase of a car requires payments of $331.94 at the end of each month for 2 years. Int

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

An installment contract for the purchase of a car requires payments of $331.94 at the end of each month for 2 years. Int

Post by answerhappygod »

An installment contract for the purchase of a car requires payments of $331.94 at the end of each month for 2 years. Interest is 6% per annum compounded monthly.
(a) What is the amount financed?
(b) How much is the interest cost?
I need the answer ASAP please
An Installment Contract For The Purchase Of A Car Requires Payments Of 331 94 At The End Of Each Month For 2 Years Int 1
An Installment Contract For The Purchase Of A Car Requires Payments Of 331 94 At The End Of Each Month For 2 Years Int 1 (48.97 KiB) Viewed 27 times
Content Ob 28888515 X f → C mylab.pearson.com/Student/PlayerTest.aspx?testid=2430627088centerwin-yes MATHEMATICAL ANALYSIS FOR MARKETING CRN-83286-202103 Test: MATH 1131 - Make-up Test #1 - Based on Ch. 11, 12.1-12.5 and 13.1-13.2 (Worth 25% of Your Total Marks) Texidium 06 28888516 Question 5 of 9 Robbins 2ce a .pptx (a) The amount financed is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.). (b) The interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.). > An installment contract for the purchase of a car requires payments of $331.94 at the end of each month for 2 years. Interest is 6% per annum compounded monthly (a) What is the amount financed? (b) How much is the interest cost? Assignments This This
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply