This can be calculated using the formula:
P = L((r/n)*(1 + r/n)^(n*t))/((1 + r/n)^(n*t) - 1)
Where:
L = 4759
r = 0.209
n = 12
t = 3
So plugging in our data:P = 4759((0.209/12)*(1 + 0.209/12)^(12*3))/((1 + 0.209/12)^(12*3) - 1)
Which will give us the amount of: $179.05 is the monthly repayments.
Other info:
Total interest:$1,686.80
Total cost:$6,445.80
I qould say the answer is b. 59.
