Fritz Benjamin buys a car costing $8800. He agrees to make payments at the end of each monthly period for 6 years. He pays 6.0% interest, compounded monthly. What is the amount of each payment? Find the total amount of interest Fritz will pay.

asked by Mikayla Dance

5 years ago

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1 answer

6.0% /100=0.06
8800*0.06=?
0.06*6=?

answered by anonymous

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Question

Fritz Benjamin buys a car costing​ $8800. He agrees to make payments at the end of each monthly period for 6 years. He pays 6.0​% ​interest, compounded monthly. What is the amount of each​ payment? Find the total amount of interest Fritz will pay.

anonymous · Answer

6.0% /100=0.06 8800*0.06=? 0.06*6=?

Fritz Benjamin buys a car costing​ $8800. He agrees to make payments at the end of each monthly period for 6 years. He pays 6.0​% ​interest, compounded monthly. What is the amount of each​ payment? Find the total amount of interest Fritz will pay.

Fritz Benjamin buys a car costing $8800. He agrees to make payments at the end of each monthly period for 6 years. He pays 6.0% interest, compounded monthly. What is the amount of each payment? Find the total amount of interest Fritz will pay.