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3 September, 11:14

Fritz benjamin buys a car costing $12300. He agrees to make payment at the end of each month period for 8 years. He pays 7.2% interest compounded monthly. what is the amount of each payment? find the total amount of interest fritz will pay?

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  1. 3 September, 11:41
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    12300=X[ ((1 - (1 + (0.072/12) ^ (-12*8)) / (0.072/12) ]

    Solve for x

    X=168.92
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