A new car is purchased and a $30,000 loan is taken. The loan is for 7 years (84 months) and the interest rate is 2.9% compounded monthly. What is the monthly payment?

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asked Sep 13, 2022 86.3k views

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A new car is purchased and a $30,000 loan is taken. The loan is for 7 years (84 months) and

the interest rate is 2.9% compounded monthly. What is the monthly payment?

Mathematics
college

Div asked

by Div

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Answer

around $250 per month

Explanation:

Katzoft answered Sep 17, 2022

by Katzoft

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