To determine the selling price of Evita's car, let’s break down the payment plan she followed over the three years.
1. Calculate Total Monthly Payments in 3 Years:
Evita makes a monthly payment of \[tex]$356.82. Over the course of 3 years (which consists of 36 months), the total amount paid in monthly payments can be calculated as follows:
\[
\text{Monthly Payment} \times 36 = 356.82 \times 36 = 12,845.52 \text{ dollars}
\]
2. Determine the End of Year Balance:
At the end of 3 years, Evita still has an outstanding balance of \$[/tex]8,563.39.
3. Calculate the Total Amount Required to Own the Car:
The selling price includes all the payments made across the three years plus the remaining balance at the end of the third year. Adding the total payments made and the end of year balance gives the full selling price:
[tex]\[
\text{Total Paid} + \text{End of Year Balance} = 12,845.52 + 8,563.39 = 21,408.91 \text{ dollars}
\][/tex]
4. Consider Interest Paid:
Evita paid \$2,408.91 in interest. This amount is implicitly included in the monthly payments and doesn’t affect the calculation of the selling price directly, but it serves as a part of the total amount she paid over the loan period.
Therefore, the total selling price of the car is:
[tex]\[
\boxed{21,408.91}
\][/tex]
