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31-01-2021
Mathematics

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You'd like to purchase a new car when you graduate and start working. The car that you would really like costs $40,000. You've
checked with the bank and based on your income, you would qualify for a car loan with an annual interest rate of 5.64% with a 3-year repayment period. What would be your monthly car loan payment?

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laharisowmya laharisowmya

31-01-2021

Answer:

1210.36

Step-by-step explanation:

40,000=pv

5.64/12=0.47% is interest

3*12=36 periods

I have used a financial calculator

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