Question

William purchase a new car the total price for he will pay for the car including interest in 17,880 if he splits his car payment over 60 months how much will he pay each month

Answer 1

The Amount amount he pays each month is 298

Explanation:

Given:

Total amount of new car (including interest) = 17,880

Payment is splited over 60 months i.e time = 60 months

Required:

How much will be paid each month

To find the amount to be paid each month use the formula:

Monthly payment = Total amount / time

`= (17880)/(60) = 298`

Therefore, the amount William pays each month is 298