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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?

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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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?

User Div
by
7.1k points

1 Answer

3 votes

Answer

around $250 per month

Explanation:

User Katzoft
by
8.2k points
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