Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. lupe made a down payment of $2300 toward the purch

Lupe made a down payment of $2300 toward the purchase of a new car. To...

70.2K

Verified Solution

Question

Finance

image
Lupe made a down payment of $2300 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 12% year compounded monthly. Under the terms of her finance agreement she is required to make payments of $230/month for 36 months. What was the cash price of the car? (Round your answer to the nearest cent.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

You borrow a GPM (graduate payment mortgage) of $10,000 with annual payments and 3-year term. The...

Physics
1.2K views

A 0.042 kg aluminum bullet traveling at 456 m/s strikes an armor plate and comes to...

General Management
1.2K views

Service quality differs from product in that the consumer is actively involved in the service creation...

Physics
1.2K views

59 A light ray is travelling through a ring of an optical fibre which is...

Physics
1.2K views

Figure shown two long straight wires carrying electric currents in opposite directions The separation between...

Physics
1.2K views

4 9 A I and mass m is placed along the east west line on...

Physics
1.2K views

A dumbbell consists of two balls A and B each of mass m 1 kg...

Basic Math
1.2K views

Solve the compound inequality. Give the solution set in both interval and graph forms.x<-3 and...

Algebra
1.2K views

Use the rules for order of operations to evaluate the following expression Write the solution...

Accounting
1.2K views

Suppose you are the money manager of a $4.52 million investment...

Accounting
1.2K views

Analyze the Consolidated Statements of Cash Flows for Applied Materials for 2013, 2012, and 2011....

Accounting
1.2K views

A company rents a building with a total of 220,000 square feet, which are evenly...