To pay for a $22,300 truck, Jina made a down payment of $4900 and took out a loan for the rest. On the loan, she paid monthly payments of $312.67 for 5 years. (a) What was the total amount Jina ended up paying for the truck (including the down payment and monthly payments)? $ (b) How much interest did Jina pay on the loan?

To pay for a $22,300 truck, Jina made a down payment of $4900 and took out a loan for the rest. On the loan, she paid monthly payments of $312.67 for 5 years. (a) What was the total amount Jina ended up paying for the truck (including the down payment and monthly payments)? $ (b) How much interest did Jina pay on the loan?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 68P

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