Question: A car may be purchased with a $ 3 5 0 0 down payment now and 7 2 monthly payments of $ 4 8 0

A car may be purchased with a $

3500

down payment now and

72

monthly payments of $

480 .

If the interest rate is

9 %

compounded monthly, what is the price of the car?

Hint: Use PV function to find the value for the payments being made and then add in the down payment. When using the function make sure that you make the interest into monthly interest. What is given is the annual interest rate.Use whole dollars for the answer

(

no cents

)

and do not put in a comma.

Example:

33333

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