Mathematics, 31.01.2020 14:48 jenny00qq

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calculate the monthly payment for a $10,000 auto loan over three years at 5% annual interest.

use the formula,
p = ar (1+r)^n/(1+r)^n-1
where a is the amount to finance, r is the monthly interest rate, and n is the number of months to pay.

a.
$241.73

b.
$299.71

c.
$353.48

d.
$397.42

Answers: 1

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calculate the monthly payment for a $10,000 auto loan over three y...