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Determining the amount of interest charged

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Assignment:

Amari purchased a car for $59,000; he paid 25% of the cost as a down payment and financed the balance amount at 5.4% compounded semi-annually for 3 years.

a) What is the size of payment made at the end of every three months to settle the loan?

b) What was the amount of interest charged?

Reference no: EM133199047

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