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You have a car loan to pay for a car the interest rate is 4.5% annually for 6 years, calculate your monthly payment (retail price = 42,295)
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17 votes
You have a car loan to pay for a car the interest rate is 4.5% annually for 6 years, calculate your monthly payment (retail price = 42,295)

User Lal Krishna
by
4.9k points

1 Answer

14 votes

Answer:

613

Explanation:

42,295*0.045=1,903

42295+1903=44198

6*12=72

44198/72=613

User Osama Bin Saleem
by
4.6k points
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