What is the price of the car if the interest rate

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Reference no: EM13818000

A used car dealer in Las Cruces placed the following advertisement: $500 down now + $99 for the first 12 months + $199 for the following 48 months

a. What is the price of the car if the interest rate is 12% per year compounded monthly?

b. If financing is done at 12% APR, what would be the equivalent uniform monthly payment?

Reference no: EM13818000

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