Didn't you see the answer that Henry posted for you?
http://www.jiskha.com/display.cgi?id=1490357356
Samantha is going to buy a new Dodge Saturn for $20800. After a 5% down-payment the dealership will offer a loan for the remaining value of the car at 3.25% APR for 4 years.
Round all answers to the nearest penny. Use Web Loan Calculator to find some of the answers here.
2 answers
Saturn was never made by Dodge, and has not been manufactured since 2009, anyway ....
I will assume you want to find the monthly payment.
i = .0325/12 = .002708333...
n = 48
PV = .95(20800) = 19760
P( 1 - 1.00270833..^-48 )/.00270833.. = 19760
I got P = 439.56
I will assume you want to find the monthly payment.
i = .0325/12 = .002708333...
n = 48
PV = .95(20800) = 19760
P( 1 - 1.00270833..^-48 )/.00270833.. = 19760
I got P = 439.56
2 answers