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DaiwalkerX DaiwalkerX
wrote...
Posts: 120
A year ago
Joan borrowed $18,000.00 to buy a car. She repaid $4500 00 three months later and $8300.00 eight months later. After twelve months, she borrowed an additional $6500.00, and repaid $5400.00 after 16 months. She paid the entire balance, including the interest, after 24 months. Interest was 8% compounded monthly for the first year and 8.4% compounded monthly for the remaining time. What was the size of the final payment?

The final payment is ____________
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as
needed.)
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Anonymous
wrote...
A year ago
Here's the solution:
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