Mike purchases a $22,000 car and plans to pay back the loan by making monthly payments over the course of 5 years. The interest rate is 3%. Compute Mike’s monthly payments using the amortization formula.

asked Apr 13, 2021 23.9k views

3 votes

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5 votes

Answer:
the second one
$395.32

Dafi answered Apr 19, 2021

by Dafi

4.0k points

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