6 You have a 7-year car loan in the amount $17,000 with APR of approximately 10%. Your payments are $280 per month. a. How much do you repay over the life of the loan? b. How much do you pay in interest over the course of the loan?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section: Chapter Questions
Problem 66E
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6 You have a 7-year car loan in the amount $17,000 with APR of approximately 10%. Your payments are
$280 per month.
a. How much do you repay over the life of the loan?
b. How much do you pay in interest over the course of the loan?
Transcribed Image Text:6 You have a 7-year car loan in the amount $17,000 with APR of approximately 10%. Your payments are $280 per month. a. How much do you repay over the life of the loan? b. How much do you pay in interest over the course of the loan?
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