Question

HELP

You want to buy a $26,000 car. You can make a 10% down payment, and will finance the balance with a 4% interest rate for 60 months (5 years). What will your monthly payments be?

Answer 1

Explanation:

given

P= $26,000

R = 4%

T = 5 years

find I ?

I = P.R.T

I = $26,000*0.04*5

I = 5,200