Suppose you purchase a car for a total price of $23,525, including taxes and license fee, and finance that amount for 6 years at an annual interest rate of 6%. (Round your answers to the nearest cent.)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 21E
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Suppose you purchase a car for a total price of $23,525, including taxes and license fee, and finance that amount for 6 years at an annual interest rate of 6%. (Round your answers to the nearest cent.)

(a) Find the monthly payment.


(b) What is the total amount of interest paid over the term of the loan?
$  
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