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you want to buy a $16,000 car. the company is offering a 5% interest rate for 48 months (4 years). what will your monthly payments be ?
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1 vote
you want to buy a $16,000 car. the company is offering a 5% interest rate for 48 months (4 years). what will your monthly payments be ?

User Trevor North
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2 Answers

3 votes
the equation would be y=16000(.05)^4

that would equal 0.1
User Rene
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3 votes
The monthly payment is $368.47.
you want to buy a $16,000 car. the company is offering a 5% interest rate for 48 months-example-1
User Mkul
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5.5k points
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