Dave krug finances a new automobile by paying $5,700 cash and agreeing to make 30 monthly payments of $490 each, the first payment to be made one month after the purchase. the loan bears interest at an annual rate of 12%. what is the cost of the automobile

step-by-step explanation:

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step-by-step explanation:

we need to solve for 'x' the following equation:  

we have that:

⇒

⇒ ⇒

factorizing, we get that:

  ⇒

then, the solutions are: or

nothing extraneous has been found!