Question: 9. A $10,000 used car is bought for $2,000 down payment, fourteen payments of $500 a month and a final fifteenth payment. If the

9. A $10,000 used car is bought for $2,000 down payment, fourteen

9. A $10,000 used car is bought for $2,000 down payment, fourteen payments of $500 a month and a final fifteenth payment. If the interest charged is 9% compounded monthly, find the size of the final payment. [ans: $1,541.98]

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