Answer:
<em>The answer is 420.10</em>
Step-by-step explanation:
<em>From the Given Question, let us recall our values.</em>
<em>Marcy Wolfe needs an installment loan of =18,500 for the purchase of a new automobile.</em>
<em>The annual percentage rate = 9%</em>
<em>A repayment loan to be maid in = 48 months.</em>
<em>Now, let find the total amount repaid,</em>
<em>Thus,</em>
<em>The first step is to add the installment loan with the percentage rate </em>
<em>which is,</em>
<em>18500+9%=20,165 </em>
<em>Then we divide the current amount by 48 months,</em>
<em>20165/48 = 420.10</em>