What was the size of the final payment

Reference no: EM133377265

Question: Joanne borrow $12,000 to buy a car. She repaid $2800.00 three months later and $5000 six months later. after 12 months, she bought an additional $3700, and repaired $3500 after 19 months. She paid the entire balance, including the interest, after 24 months. Interest was 6% compounded monthly for the first year and 6.5% compounded monthly for the remaining time. What was the size of the final payment?

Reference no: EM133377265

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