Car price $118,191 Percent for car loan: 2.49% 36 months Find monthly payment show work

Question

asked Aug 12, 2022 157k views

1 Answer

Niecy · Answer 1 · 2022-08-16T11:54:40+0000

Answer:

3410.64

Explanation:

Gonna assume that the 2.49 is the APR

present value of the loan= present value of the payments

effective rate: .0249/12= .002075

x= payment

$118191=x(1-(1+.002075)^(-36))/(.002075)\\118191=34.6536494355x\\x=3410.63645317$