Need help with math homework 10 points for best answer and explanationn?

Answers:1   |   LastUpdateAt:2012-10-20 12:44:02  

Question
ice cream
Asked at 2012-08-21 08:28:03
Lupe made ​​a down payment of $ 2,000 for the purchase of a new car. To pay the balance of the purchase price , which has obtained a loan from your bank, at the rate of / 13 % per annum compounded monthly . Under the terms of its financing agreement that is required to make payments of $ 210/month for 48 months. What is the cash price of the car? ( Round your answer to the nearest hundredth . )
Answer1MANISHAnswered at 2012-10-20 12:43:19
.... so ask for the price of the car so you can cancel the trash 13% / year compounded mounthly . The first number you get is the payment of $ 2,000 , but we'll get to that in a minute. what you find is the amount spilled first payment after that. to pay the car has to pay $ 210 per month for 48 months. So multiply 210 by 48 and you get $ 10,080 . Now you can add the dollar hitch for 2000 as $ 12,080 full cash value of the car .
Related Questions
1
  • Answer This Question:Need help with math homework 10 points for best answer and explanationn?