Tracey purchased a new car with zero down payment and agreed to make payments of $360 at

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Tracey purchased a new car with zero down payment and agreed to make payments of $360 at the end of each month for seven years. After five years, she found she needed a larger vehicle to accommodate her growing family, so she traded the car in to the same dealership for an SUV. Her payments increased to $425 per month. If interest was 4.98% compounded monthly, what was amount she financed?

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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