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You are looking to purchase a new car. The car is listed for $25,000. The dealership is offering a 10% discount off sticker price when you trade in a...

You are looking to purchase a new car. The car is listed for $25,000. The dealership is offering a 10% discount off sticker price when you trade in a vehicle. After negotiating, the dealer is willing to give you an additional $2,500 for your trade in. You decide to finance the balance of the car through the dealership for 5 years at 5.2% compounded monthly. What is the monthly payment for your new car?


Tamika made an initial deposit of $4,200 in an account for her son. Assuming an interest rate of 11% compounded quarterly, how much will the account be worth in 15 years?

Top Answer

The monthly payment is $379.26.... View the full answer

3 comments
  • Can you help me with this one https://www.coursehero.com/qa/wait/11712352/
    • klineth10
    • Jun 04, 2018 at 8:31pm
  • sure let me see
    • rashi.bansal
    • Jun 04, 2018 at 8:34pm
  • I will post the answer..
    • rashi.bansal
    • Jun 04, 2018 at 8:37pm

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1.) The monthly payment for the new car... View the full answer

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