Business, 03.01.2020 04:31 julielebo8
Craig bought a new boat. he made a 18% down payment. he financed the rest through his bank for 4 years. his bank charged 4% per year compounded monthly and his monthly payments were $500. what was the original price of the boat?
Answers: 3
![\left[ \frac{1-(1+i)^{-n}}{i} \right]](/tpl/images/0440/8440/8fa5e.png)
![\left[ \frac{1-(1+0.003333)^{-48}}{ 0.003333 } \right]](/tpl/images/0440/8440/885c4.png)
![\left[ \frac{1 - 1.003333^{-48}}{ 0.003333} \right]](/tpl/images/0440/8440/1a870.png)
![\left[ \frac{1 - 0.852384}{ 0.003333} \right]](/tpl/images/0440/8440/188e4.png)
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Craig bought a new boat. he made a 18% down payment. he financed the rest through his bank for 4 yea...
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