master31 master31
  • 17-06-2021
  • Mathematics
contestada

Car price $118,191
Percent for car loan: 2.49%
36 months

Find monthly payment show work

Respuesta :

madethisfortwitch1
madethisfortwitch1 madethisfortwitch1
  • 17-06-2021

Answer:

3410.64

Step-by-step explanation:

Gonna assume that the 2.49 is the APR

present value of the loan= present value of the payments

effective rate: .0249/12= .002075

x= payment

[tex]118191=x\frac{1-(1+.002075)^{-36}}{.002075}\\118191=34.6536494355x\\x=3410.63645317[/tex]

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