Question: Solve step by step in digital format Pedro bought a late-model car on credit that he will have to pay as follows: $ 105,400 down

Solve step by step in digital format

Pedro bought a late-model car on credit that he will have to pay as follows:

$ 105,400 down payment. $ 14,284.62 each month, for 3 years, with a 3-month grace period. Interest rate of 1% per month compounded each month.

Calculate:

a. The cash price of the car

b. The monthly payment if during the grace period there is interest payment

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