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(Solved): Question 6 of 6 While buying a new car, Diana made a down payment of $1,100 and agreed to make month ...



Question 6 of 6 While buying a new car, Diana made a down payment of

$1,100

and agreed to make month-end payments of

$280

for the next 3 years and 5 months. He was charged an interest rate of

4%

compounded semi-annually for the entire term. a. What was the purchase price of the car?

Round to the nearest cent b. What was the total amount of interest paid over the term?



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