Asked by Vivian
anthony has decided to purchase a $19000 car. he plans to put 20% down toward the purchase and to finance the rest at a 6.8% interest rate for 4 years. find the monthly payment
Answers
Answered by
Reiny
balance of loan = .8(19000) = 15200
monthly rate = i = .068/12
n = 12(4) = 48
payment --- p
solve for p,
p(1 - (1+i)^-48 )/i = 15200
monthly rate = i = .068/12
n = 12(4) = 48
payment --- p
solve for p,
p(1 - (1+i)^-48 )/i = 15200
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.