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What was the cash price of the car

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Q1-Falco Inc. paid $28,000 as a down payment for a machine. The balance was financed with a loan at 3.25% compounded semi-annually and required payments of $7,500 to be made at the end of every six months for 10 years to settle the debt. What was the purchase price of the machine?

Q2-Eric received a loan from his bank at 6.25% compounded monthly so that he could purchase a car. He was required to pay the bank $400 at the end of every month for the next 2 years. What was the cash price of the car?

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