447,947 views
0 votes
0 votes
Select the correct answer

Taylor wants to purchase a car with an auto loan. He can get a 48-month loan from his bank that is compounded monthly at an annual

interest rate of 7. 9%.

Suppose Taylor needs to obtain a loan for $19,076 to purchase the car.

Use the formula for the sum of a finite geometric series to determine Taylor's approximate monthly payment.

P= F p (i)

—————-

1-(1+i) -n

User Vdclouis
by
3.2k points

1 Answer

16 votes
16 votes

Answer:

$78

Explanation:

User Danny Bee
by
2.9k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.