Answer:
monthly payment. = $703.24 per month
Step-by-step explanation:
given data
Cost of auto = $21000
Cash Down payment = $5250
Loan amount = PV = 21000-5250
loan amount = $15,750
time period = 30 monthly
Rate = 24% pa = 24รท12 = 2% pm
solution
we get here monthly payment that is express as
monthly payment. =
...................1
put here value and we get
monthly payment. =

solve it we get
monthly payment. = $703.24 per month