Rachelle purchased a motor home for $9,000 down, with the balance to be paid by 60 monthly payments of $1176.40 including interest at 6% compounded monthly.
a) What was the purchase price of the motor home?
b) If the principal balance may be prepaid at any time, what is the payout amount two years after the purchase date (not including the scheduled payment on that date)?

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The Answer of Rachelle purchased a motor home for $9,000 down, with the balance to be paid by 60 monthly payments of $1176.40 including interest at 6% compounded monthly.
a) What was the purchase price of the motor home?
b) If the principal balance may be prepaid at any time, what is the payout amount two years after the purchase date (not including the scheduled payment on that date)?

Rachelle Purchased a Motor Home for $9,000 Down, with the Balance