christiancook88 christiancook88

24-08-2020
Mathematics

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You want to buy a car. The loan amount will be $18,000. The company is offering a 5% interest rate for 48 months (4 years). What will your monthly payments be?

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VladimirDidi VladimirDidi

24-08-2020

Answer:

393.5$

Step-by-step explanation:

$18,000 -- car price

Total sum (105%) = [tex]\frac{18000}{100}[/tex]* 105%

Hence

[tex]\frac{18000/100*105}{48}[/tex] = 393.5$

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