Question

Mike wants to buy a new Do

Answer 1

If I can get what they're saying...

They want 20% already for the car loan( which is 21,500 assuming)
21,500 x .2 = 4,300
then they want him to pay the rest of the money over a span of 48 months plus interest
Money: (21,500-4300)/ 48= $358.33 per month
plus Interest: 358.33 x .068= $24.37
In total: 358.33+ 24.37= $382.70 per month (which is the answer)