Question

Follow the steps above and find c, the total of the payments, and the monthly payment. Choose the right answers.

Jane Smart buys a new SUV. The price, including tax, is $22,500.00. She finances the vehicle over 60 months after
making a $2,000 down payment. The true annual interest rate is 12%. What are Jane's monthly payments (principal plus
interest)?
To the nearest penny, c
Total of payments = amount financed + C = $
Total of payments ÷ number of payments = monthly payment = $
0

Answer 1

To the nearest penny, c = $6,252.50

Total of payments = amount financed + c = $26,752.50

Total of payments ÷ number of payments = monthly payment = $445.88