Lauren purchased a new vehicle by making a down payment of $3500 and financing the rest over the next 5 years with monthly payments of $475.  If the rate of interest being charged was 2.56% compounded monthly, what was the purchase price of the vehicle? Round your final answer to 2 decimal places.

Answer rating: 100% (QA)

To find the purchase price of the vehicle we need to determine the amount financed The down payment ... View the full answer