Register
Tatiana is looking to purchase a BMW that costs $30,000. She will make a $6,000  down payment and borrow the remaining with a 60-month loan that has an annual interest rate of 4.71%. Use the formula to
15.3k views
19 votes
Tatiana is looking to purchase a BMW that costs $30,000. She will make a $6,000  down payment and borrow the remaining with a 60-month loan that has an annual interest rate of 4.71%. Use the formula to determine Tatiana’s monthly car payment to the nearest dollar amount.

please help me with step by step

User Noaman Akram
by
5.3k points

1 Answer

5 votes

Answer:

$30,000 - $6,000 = $24,000

$24,000 to finance at 4.71% for 60 months

24,000 divided by 60 = $400/month + 4.71% ( $18.84) = $418.84/month.

Step-by-step explanation:

User Margarete
by
5.2k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.6m questions

7.3m answers

Other Questions

Jacinda makes collections on real estate loans. Last year, she made approximately 20 collections and collected $38,000. Must Jacinda be licensed?
Outline the process by which most federal judges are nominated and approved
When an excessive amount of alcohol is consumed causing a person to stop or breath slowly, vomit in their sleep. or appear pale or bluish the person is possibly suffering from • Binge drinking Intoxication
1. MIDTERM TEST Midterm 13. Which of the following gives the Constitution the final word in regards to this country's legal code?
The only person to serve two non-consecutive terms as u.S. President was known by what nickname?
Link Copied!