How much will the weekly care loan payment be

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Victor would like to buy his first car and the one he has his eye on is $25,000, plus an extra 13% HST for a total price of $28,250. The dealership has a deal for $0 down payment and charges 2.89% interest on the loan. Victor plans to make car loan payments weekly and has accepted the maximum loan repayment period of 8 years.

Problem 1: How much will his weekly care loan payment be?

Problem 2: How much will he have paid to the dealership by the time his loan is paid off?

Problem 3: How much interest will be paid?

Reference no: EM132998054

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