1. A man buys a used car for $600 and agrees to pay $100 down and $100 per month plus interest at 6 percent on the outstanding indebtedness until the car paid for. How much will the car cost him? 2. The value of an automobile depreciates at the rate of 15% per year. What will be the value of an automobile 3 years hence which is now purchased for P45,000?

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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1. A man buys a used car for $600 and agrees to pay $100 down and $100 per month plus interest at 6 percent on the outstanding indebtedness until the car paid for. How much will the car cost him?

2. The value of an automobile depreciates at the rate of 15% per year. What will be the value of an automobile 3 years hence which is now purchased for P45,000?

 

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